Taiwan Regulator: Signed Financial MOUs With China
TAIPEI -(Dow Jones)- Taiwan and China signed three financial memorandums of
understanding Monday, said Sean Chen, chairman of the island's Financial
Supervisory Commission, a crucial step toward the two sides opening their
financial markets to each other.
Chen signed the long-awaited MOUs with his Chinese counterparts at the China
Insurance Reglatory Commission, the China Securities Regulatory Commission and
the China Banking Regulatory Commission at 1000 GMT, he told reporters.
The non-binding MOUs, which will take effect in 60 days, cover information
exchange, confidentiality, financial inspection, crisis management and continued
contact between the two sides' regulatory agencies, Taiwan's FSC said.
-By Perris Lee Choon Siong, Dow Jones Newswires; +8862-2502-2557; perris.lee@
dowjones.com
(END) Dow Jones Newswires
11-16-090609ET
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