Taipei, Nov. 21, 2012 (CENS)--The cross-Taiwan Strait financial exchanges will reach a new level, as Shan Fulin, chairman of China Banking Regulatory Commission (CBRC), is set to visit Taiwan by the end of this year. Guo Shuqing, chairman of China Securities Regulatory Commission (CSRC), may also visit Taiwan at around the same time. During their meetings with Chen Yuh-chang, chairperson of Taiwan’s Financial Supervisory Commission (FSC), they will discuss various issues of common interest, including increase of the stake for reciprocal investments by financial institutions on the two sides of the Strait.
Lee Jih-chu, vice chairperson of the FSC, revealed yesterday (Nov. 20) that thanks to the visits by ranking Chinese financial officials, major breakthrough will be achieved in short term for the establishment of cross-Strait cooperative platform for securities and insurance supervision.
While Shan Fulin is set to visit Taiwan by the end of this year, the trip of Guo Shuqing is still uncertain, although he accepted invitation of Chen Yuh-chang to travel to Taiwan during the meeting of the International Organization of Securities Commissions (IOSCO) in Beijing in May this year. He may be unable to make the trip, since he is now reportedly a hot candidate for the next governor of People’s Bank of China.
Lee Jih-chu noted that cross-Strait cooperative platform for banking supervision was already established last year and is functioning smoothly now. Both sides of the Strait have also reached high extent of consensus in establishing similar platforms for securities and insurance supervision, according to Lee.
(by Philip Liu)
