Every journalist Hu Junhua Bank of China (601988,SH) will be the first mainland bank to land in Taiwan. Yesterday, the market news said that BOC President Lihui will be in September to visit Taiwan to conduct field visits to establish branches, and to ensure that by the end of this year, BOC will be able to operate in Taiwan branch. A media report yesterday quoted Lihui as saying that BOC wanted to set up branches in Taiwan as soon as possible, and that even the candidates would be able to find a Taiwanese-speaking person as head of the first branch of the bank, and Lihui that BOC would become the mainland's largest mainland lender to Taiwan. In an interview yesterday with the Daily economic news, BOC spokesman Wang Chaowen said BOC had planned to open a branch in Taiwan, but when it was time to open a branch, it was also necessary to see when the MOU (Financial supervision memorandum) was signed. As for Lihui, who will visit Taiwan in September this year to establish a branch site, Wang Chaowen said there is no specific arrangement for the mission. The market reacted coldly yesterday to the bank's entry into Taiwan. As of the close, BoC slightly rose 0.65%, reported 4.66 yuan per share. The prospect of mainland banks entering Taiwan market is becoming clearer. June 30 Taiwan authorities have approved the mainland funds can go to Taiwan investment, and issued a supporting management regulations. Insiders pointed out that this means that cross-strait economic and trade normalization has taken a big step forward, the Cross-strait MoU is expected to be signed in the near future.
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