Mainland 'open' to Taiwan banks

HONG KONG: The mainland is "open" to Taiwan banks investing in their mainland peers, the banking regulator said yesterday.

"For us, there is no problem," Xia Lingwu, spokesman for the China Banking Regulatory Commission (CBRC), said. He was responding to yesterday's media report that Taiwan said its banks will be allowed to invest in their mainland counterparts via offshore subsidiaries, though no timetable was given.

"We haven't placed any hurdles in the way of Taiwan banks we treat overseas investors equally, be they from Taiwan, Hong Kong, Macao or the US," Xia said. "It's all about when the Taiwan side will lift its restrictions."