TBB to assist Taiwanese enterprises in China

TBB will to promote personnel exchange and renminbi-based loans to Taiwanese enterprises in China. A MOU with the Bank of Beijing will be signed.

According to the China Economic News Services, Taiwan Business Bank or TBB will set up a representative office in Shanghai by the end of this year. It may  be upgraded to branch a year later.
 
Mr. Peter T. C. Lo, chairman of TBB, indicated that financial institutions in China can obtain better profits than its counterparts in Taiwan since they see much higher interest rate gap of 5-6 percentage points. So, TBB will explore the financial market in China after inking the MOU with Bank of Beijing or BOB and establishing a foothold in Shanghai.