Bank of Taiwan reopens in Shanghai   

台湾最大银行重返上海滩

暌违一甲子，台湾最大的银行台湾银行10日重返上海滩。当天，台湾银行上海分行举行开业仪式。

Shanghai (CNS) -- Bank of Taiwan (BOT) reopened its Shanghai branch on July 10, after sixty years' with no presence in the city.

Industrial experts anticipate that as the Bank of China and BOT have set up braches respectively in Taiwan and on the mainland, it won't be long before we see the establishment of cross-strait currency settlement mechanism.

The Bank of Taiwan plays a leading role in Taiwan's banking sector and ranks No.1 in Taiwan for its assets, net worth, deposit and loan size.

BOT's predecessor was Taiwan Bank Co., Ltd. which used to have 35 branches on the mainland, an indication of how strong its ties here were.

Regulations allow Taiwan banks to apply for providing RMB business services to Taiwan-funded enterprises, if it makes profits in the first year's operation.