Cross-strait banking regulators on Monday announced plans to establish regular meetings and mutual communication, ending its first round of talks without a deal to relax banking restrictions between Taiwan and the mainland, the South China Morning Post reported. The talks follow the signing of a memorandum of understanding two years ago, and the formation of a banking supervisory co-operation platform in January. Analysts said Monday’s talks fell short of expectations, largely due to the two sides’ complex banking regulations and the Taiwan presidential election next year. The memorandum’s proposed measures include permission for Taiwan banks to operate renminbi business as soon as they have opened mainland branches, and allowing mainlanders to buy shares on Taiwan’s market.
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