Taipei (CNS) – Taiwan's Financial Supervisory Commission (FSC) announced on Wednesday that it will allow mainland banks to issue yuan-bonds in Taiwan, and open the local yuan-bond market to some financial institutions which have registered on the mainland, according to Taiwan's news agency.
Three policy banks, five state-owned commercial banks, and 12 joint-stock commercial ones from the mainland are authorized to issue yuan-dominated corporate bonds, but their buyers are limited to qualified investment institutions.
In addition, subsidiaries of island-based financial institutions, which are set up on the mainland, and companies which have registered on the mainland but listed on the island, are also authorized.
Around 1,100 Taiwan-based companies have expanded their investments to the mainland, according to the financial regulator.
The island has planned to issue ten rounds of yuan-bonds, which are estimated to reach 10 billion New Taiwan dollars (US$338 million). Six rounds worth NT$3.9 billion (US$131.82 million) have been issued so far.
Treasury bonds issued in Hong Kong
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