Bank of China to sign third cooperation agreement

The layout of the Bank of China in Taiwan has fallen again. On the morning of December 28, BOC and the Taiwan Cooperative Treasury Commercial Bank signed the comprehensive Business Cooperation Agreement.　　According to the agreement, the two sides will carry out exchanges and cooperation in the fields of financing, settlement and liquidation, capital Business, syndicated loan, risk management and personnel training in Taiwan-funded and land-funded enterprises.　　This is the third official signing of the cooperation agreement between the two banks after the signing of the comprehensive Cooperation Agreement between BOC and Taiwan Bank and Taiwan's first commercial bank in Friday. Three details of the cooperation agreement the reporter was unable to contact the Taiwan cooperation Treasury Commercial Bank, the cooperation of the two sides of the detailed interview.　　However, there are many similarities from the content of the three agreements.　　BOC and Taiwan Bank cooperation is based on complementarity between the two sides, the two sides want to play each other's resources and business advantages, mutual cooperation and complementarity. Bank of BOC Company's financial headquarters to tell reporters, "in trade finance, liquidation, information exchange and personnel training and other fields, BOC has been with the Bank of Taiwan to carry out close cooperation." According to the Taiwanese bank, it has started negotiations with BOC since May this year.　　The cooperation of the two sides includes the promotion of clients ' resources, funds, loans, personnel training, new outlets and trusteeship. Under the agreement, Taiwanese banks can provide renminbi loans to Taiwanese clients through BOC, while both sides agree to provide funds to each other. "For example, the Bank of Taiwan's branch offices in the mainland, if required, may be provided by BOC." or through the endorsement of Taiwan's banks, mainland Taiwanese can borrow from BOC. Ho Sun, international manager of Taiwan Bank, for example, "Similarly, BOC set up a branch in Taiwan and Taiwan banks will give it if it needs NT or other currencies." "Under Chinese law, Taiwan banks will need to establish a representative office in mainland China, and the representative office may apply for the establishment of a branch after a full year of establishment." No renminbi business can be opened in the first year of establishment of the branch.　　Taiwan's banks set up a representative office on the mainland February 1 this year.　　Staff training, new outlets and trusteeship is also one of the contents of the two sides cooperation, Ho Sun said. Taiwan's first commercial bank is more quickly laid out on the mainland. December 23, Taiwan's first Commercial Bank Shanghai branch officially unveiled, 24th signed a cooperation agreement with BOC. Linzoya, general manager of the bank, said that the branch in the initial opening, faced with insufficient outlets and limited business items such as relatively unfavourable conditions, only with the mainland bank to strengthen cooperation in order to actively expand the market layout.　　After the signing of the cooperation, the Bank will then implement business cooperation to accelerate the satisfaction of mainland Taiwanese financial products demand business. The bank's financial headquarters said that in the future, BOC will, in accordance with the business needs of both sides, in the capital Business, cross-strait Enterprise financing, syndicated loans and other fields, and gradually promote and implement the content of the agreement between the two sides. Ho Sun revealed that the business will not be divided in succession, according to the need to carry out. "For example, after the signing of the MS Chang chairman and the chairman of the Chinese bank, it is not possible to send people to study now." "BOC is currently in charge of the Bank of China and its domestic and foreign agencies through its financial headquartersKind of business cooperation.　　After the agreement is signed, cooperation with the Taiwan region will continue to be incorporated into the financial headquarters. Continental banks ' margin challenge in fact, mainland banks may have a much smaller market and profit margin to develop Taiwan's business than Taiwan's banks.　　This is also the future of the bank to face the challenge. Wang, a researcher at the Taiwan Institute of Cass, told reporters Taiwan's banking industry is very competitive, profit margins are small, so must come to the mainland development, find a second spring, while the mainland's business in Taiwan is very strict restrictions, local policies and regulations more restrictive, "currently only approved the mainland's three banks to set up offices." "He thinks that mainland banks go to Taiwan more than to make money, but to collaborate strategically," such as better understanding of local customer needs and information about the island's institutions, looking for future investment opportunities, and preparing for future and Taiwanese banks to collaborate on business, foreign exchange transactions and joint loans. " "For BOC to be particularly active in many banks, Wang believes this is mainly because BOC is an international bank with more foreign exchange business." In September this year, the first batch of Bank of China was approved and first registered to set up a representative office in Taipei.　　Since then, Bank of Communications and China Merchants Bank have also been approved to set up representative offices in Taiwan. Taiwan Bank was established in 1946. By the end of 2009, the total assets of 117.9 billion U.S. dollars, is Taiwan's largest bank. First Commercial Bank was established in 1899, as at the end of 2009 total assets of 58.2 billion U.S. dollars, is Taiwan's fifth largest bank. Cooperative Vault Commercial Bank was established in October 1946, is the most network of commercial banks in Taiwan, the market share of deposit and loan are ranked among the best.