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Financial delegation visits China with possible MOU looming

Financial delegation visits China with possible MOU looming

Taipei, July 1 (CNA) A 50-member delegation of legislators and bank representatives left Taiwan Wednesday for a five-day visit to Beijing to gain a deeper understanding of China's banking sector, ahead of the possible signing of a memorandum of understanding (MOU) on financial supervision cooperation between Taiwan and China.
The delegation, led by ruling Kuomintang Legislator Lai Shyh-bao, is composed of 15 lawmakers on the Legislature's Finance Committee, Bank of Taiwan Chairwoman Susan Chang, Mega International Commercial Bank Chairman Wang Rong-jou and the heads of many other banks.
The delegates will be visiting Chinese financial and banking regulators -- the China Banking Regulatory Commission, the China Insurance Regulatory Commission, and the China Securities Regulatory Commission -- and state-run banks and also meet with Wang Yi, head of China's Taiwan Affairs Office.
Chang, a former vice chairman of Taiwan's Financial Supervisory Commission, said there are no technical obstacles to transactions or cooperation between Taiwanese and Chinese banks, and there is no need for further negotiations with China in this area.
She would not speculate, however, on when an MOU will actually be signed, saying it will be decided by the two sides.
Lai also stressed there is nothing special about the trip and asked that people not read too much into it.
Deputy Minister of Finance Tseng Ming-chung was originally scheduled to be part of the delegation but later canceled the trip because of what he described "important public business. " Tseng declined to disclose what the public business was, and he dismissed rumors that he was directed to cancel the trip.
(By Y.L. Kao)




Updated : 2021-10-25 03:31 GMT+08:00