China’s CSRC moves to bolster Taiwan ties
29 January 2013
News, Asia, China, Taiwan
By Hui Ching-hoo
The China Securities Regulatory Commission (CSRC) is looking to strengthen its financial ties with Taiwan. CSRC chairman Guo Shuqing is set to hold a meeting with Taiwan’s Financial Supervisory Commission (FSC) in Taipei on Tuesday (January 29) in a bid to further promote cross-strait investment, according to a report from Economic Daily News.
The regulators plan to study the feasibility of raising the US$500 million ceiling placed on participants in the Mainland-based Qualified Domestic Institutional Investors (QDII) scheme seeking to invest in Taiwan. The Chinese watchdog is also considering introducing an RQFII-like programme to Taiwan that would allow the island’s RMB deposits to be repatriated back to China. Meanwhile, the CSRC is planning to loosen the US$5 billion minimum AUM requirement on Taiwanese financial institutions seeking to invest in China under the Qualified Foreign Institutional Investor (QFII) scheme.
Currently, only six Taiwanese asset managers Capital, Cathay, Fubon, Yuanta, Prudential, and Fuh Hwa have been awarded QFII status.
Meanwhile, market both watchdogs will evaluate the possibility of allowing Mainland companies to go public on Taiwan’s stock market.
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