CHINA
From Times Staff and Wire Reports
Taiwan Bank to Open Branch: Taipei Business Bank has obtained Chinese permission to open a branch in Shanghai, but the bank’s president said Taiwan must first lift a 40-year-old ban on financial industry investment on the mainland. “We have been invited to invest in Shanghai, but . . . we are still waiting for our government’s go-ahead,” Charles Chen said. Chen said lifting the ban would strengthen growing economic ties with China.
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