Taiwan banks allowed to buy into mainland lenders

Taiwan banks will be allowed to buy stakes worth up to 20% in banks in mainland China through overseas units, the Wall Street Journal reported. The deputy director-general of the Financial Supervisory Commission’s (FSC) Banking Bureau said that the FSC had agreed on supervisory measures with the China Banking Regulatory Commission. Taiwan banks can apply to make the investments after the FSC finishes revising related regulations within a week. Taiwan banks and financial holding companies currently operate a total of 12 overseas units.