Taiwan banks want higher investment limit for China peers

Thursday, 09 February 2012 20:02

Taiwanese banks are urging regulators to raise a cap on stakes Chinese banks can hold in them to 20 percent from 5 percent as they push to get a bigger share of the huge mainland market at a faster pace and offset a lack of growth opportunities at home.

The head of the island's Financial Supervisory Commission (FSC) met on Wednesday with the heads of several local banks ahead of a meeting due before June with his mainland counterpart at the China Banking Regulatory Commission (CBRC).

Bankers said raising the investment limit was high on their agenda as it would make Taiwan banks much more attractive for mainland peers and would lead to further reciprocal opening by China.

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