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March 16, 2010, 7:03 a.m. EDT · Recommend ·

Taiwan opens finance sector to China investment

Alert Email Print By Chris Oliver

HONG KONG (MarketWatch)-- Taiwan's financial regulator announced changes Tuesday that will enable Chinese financial companies to invest in their Taiwanese counterparts, effectively ending barriers that had shielded a sensitive sector of the economy from mainland investment. The announcement, posted on the Web site of the Financial Supervisory Commission, formalizes a decision announced by Taiwan's cabinet last week. The new rules will enable Chinese banks, insurers and brokerages to take stakes in similar institutions in Taiwan. The new rule will also permit Taiwanese financial companies to own stakes in similar mainland companies.

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