Bank of BOC to set up office in

Bank of China and banks of communications 7th to  "Golden Tube" submission application to set up an office, become the first Cross-strait financial market opened, the fastest next month is expected to be allowed to , a year later can be established branches, operating business in . It is expected that Lu Ban will have an opportunity to set up an office on the stage before the end of the year. -funded banks have been landing offices for many years, Lu Ban is the first stage to set up.  It is understood that at present, in line with the standards set by the HKMA, there are five mainland banks which can apply to set up offices, including China, commerce, industry, construction, Transport and investment Bank, and have contacted the HKMA before the Lu Ban of the preliminary hearing, and only BOC and two. "The HKMA will, under the premise of ensuring financial stability on the island, examine the applications of these two Lu Ban and negotiate with the" central bank "in the near future," said the pillar of the HKMA Banking bureau.  Lin Pillar said, the general foreign bank to establish office case audit time, on average about a or two months, each situation is different, if need to fill the words, time will be a little longer.  It is understood that the bank of BOC, the bank is in the  "HKMA" after the completion of the pre-trial, the conditions are generally not a problem, before the formal delivery, it is expected that the "HKMA" will soon be able to obtain the letter of approval. Under the ECFA (cross-Strait Economic Cooperation Framework Agreement) early receipt of the list consensus, the mainland bank to set up an office for one year, can be established branches. As a result, the two Lu Ban will have a chance to open the stage as soon as the end of next year and the beginning of the early years, when  financial market will present a new competitive posture, ese businessmen will become the business objectives of cross-strait banks. According to the ECFA agreement, due to the mainland's commitment to -funded banks in the establishment of a branch a year later, contractors -funded enterprises in the renminbi business.  As a result, after the establishment of a branch in the Lu Ban office one year later, the  side is also expected to agree to Lu Ban Contractors NT business in . According to the  Strait Financial opening-up Scheme, the mainland will have five banks eligible to apply for the establishment of an office in the relevant open standards. Among them, the Lu Ban that conforms to set branch, probably only one. In the Lu Ban of the "Hkma", the company has set up a branch condition, including the top 200 in the world, with no major violations in the past five years and five years in the Economic Cooperation and Development Organization (OECD) countries.