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No application for stake buy in Taiwan bank received: CBRC

(Xinhua)
Updated: 2009-10-16 13:57

China's banking regulator said Friday that media reports saying two mainland banks had been given preliminary approval to acquire a Taiwan bank stake was just rumor.

An unnamed high-ranking official with the China Banking Regulatory Commission (CBRC) said the CBRC had received no application from the mainland banks.

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Media reports said that the Industrial and Commercial Bank of China and China Construction Bank had been approved by the commission to invest in Taiwan banks.

The commission also denied rumors that mainland's Bank of China and Bank of Communications would open offices in Taiwan.

The official said the Chinese mainland and Taiwan were discussing a memorandum of understanding on finance supervision and management, hoping to seek an early agreement.