Taiwan, mainland to hold financial talks

Negotiators from Taiwan and the mainland will meet this weekend to reach agreements on financial issues, the Washington Post reported. The talks, to be held in Nanjing, are expected to focus on allowing Taiwan-based financial firms to enter the mainland market. Currently, Taiwan banks can operate offices in the mainland, but cannot offer banking services. Other areas to be covered by the expected financial cooperation agreement are securities and futures, insurance, and a currency exchange and clearance mechanism. However, the agreement is not likely to lead to direct changes; Taiwan’s Mainland Affairs Council said it would be more likely to prepare the way for future, more detailed negotiations.