Tuesday, November 4, 2008

Jiang Chen of the next sign of the financial supervision memorandum great opportunity

In the Taiwan Strait on November 5 hearing yesterday, SEF Vice Chairman Kao said The future of cross-strait financial cooperation between the two organizations will be included in the follow-up consultations focused on the subject; He pointed out that cross-strait financial supervision on the financial signed a memorandum (MOU) have a strong demand in the third Jiang Chen will complete the signing of a great opportunity. If the MOU can be executed smoothly into the first half of next year, the bank is expected to cross-strait mutual landing.

According to Taiwan media reports, ARATS President Wang Chen Chen Jiang yesterday in the second session, a clear declaration Jiang Chen will be in the future will focus on financial issues. Yesterday, Kao told a news conference that the two financial cooperation is an important follow-up consultations on the subject, tomorrow is a forum to prepare for; Banking, including co-operation, exchange of shares, will be in the next period of time consultations on the consensus reached , Signed the agreement.

Media asked whether the MOU could become the third-Jiang Chen talks to sign the agreement, Kao said: "Personally, I judge, MOU signed is a great chance."

He said, MOU is very concerned about cross-strait issues, the two sides have such a demand for the financial sector; the mainland Chinese bank, Industrial and Commercial Bank accompanied to Taiwan the day before the dinner expressed a strong will to want to come to Taiwan to set up Branch; "signs from the judge, the two sides should reach an agreement soon on the MOU."

In addition to the MOU, Kao also said that Mr Jiang will also enter into talks for the first time over the weekend charter flights with the mainland tourists to Taiwan two issues for the implementation of that review and also for the future implementation of the views; another situation for the future , Including cross-strait relations, cross-strait exchanges, the international economic situation, the international financial situation, as well as consultations in the future to exchange views on the subject, and a preliminary consensus.

According to another report, Jiang Chen of the financial talks the two sides will debut today, will be led by SEF Chairman Chiang Pin-kung and industry officials attending the talks, to promote cross-strait economic and trade exchanges further.

This is the cross-strait financial authorities in Taiwan for the first time a direct dialogue is generally expected to cross-strait financial focus of the discussion will include: Taiwan's Bank of China branch offices in the upgrading of Taiwan's Bank of China branch (a line) for restricted free to do RMB business in the mainland Professional investment institutions to invest in Taiwan, as well as cross-strait financial supervision MOU (memorandum) study, and so on.

However, the signing of the MOU involves many technical problems, the two sides may need some negotiations will it be possible to reach a consensus.

Another focus of the talks today is how to cross-strait cooperation in fight against global financial turmoil, Taiwan will propose the establishment of cross-strait mutual funds. "Executive Yuan" has instructed relevant ministries to start planning.

Taiwan, "Central Bank" to send Secretary of the Exchange paragraph Jinsheng the panel. Since the People's Bank of China International Secretary-Jin Qi Hong Kong, Macao and Taiwan Affairs Office consultation is a master of the currency clearing mechanism, agreed that the financial sector in order to talk with the Taiwan currency clearing mechanism is not in today's cross-strait financial forum to discuss that with the private " The central bank, "officials.

Although cross-strait discussion of the financial industry's high expectations, but only the Straits Exchange Foundation announced the list of official representatives of the private bankers who were present, the home has been kept confidential. Bankers pointed out that the chairman of the Association of Banks, Xiu-Lian Zhang, Wang Rong, chairman of Mega Golden Week, and the CITIC Bank, one silver and silver-chang in the mainland has set up offices in seven bank chairman, is expected to attend.

No comments: