BANKING & FINANCE - Aug. 10, 1992
From Times Staff and Wire Reports
Taiwan’s Banks to Find It Easier to Deal With China: Taiwan will let its banks deal directly with Chinese banks to facilitate trade, officials said. The Bureau of Monetary Affairs said that under the proposal, the government will allow the overseas branches or subsidiaries of local banks to deal directly with their Chinese counterparts. Finance Minister Wang Chien-shien said the bureau will hammer out details with the central bank before submitting the proposal for cabinet approval at an unspecified date.
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