This article is more than 10 years old.
China’s Bank of Communications has become the first mainland bank to obtain a branch license in Taiwan, the bank said in a statement yesterday. The license was approved by Taiwan authorities on June 11, and the bank will operate in Taipei's landmark Taipei 101 building.
The bank is 18.6% owned by HSBC.
Cross-Strait relations have expanded significantly following the election of Taiwan President Ma Ying-jeou in 2008. Ma, who has pledged to try to boost ties between the two sides, was elected to a second term in January.