Bank of China seeks direct trade finance links with Taiwan

The Bank of China touts SwiftÆs Trade Services Utility in Taiwan with the aim of tapping into improving cross-strait relations.

As Chinese and Taiwanese financial institutions look to increase cooperation, a mutual interest in lucrative cross-strait trade is creating new trade finance opportunities.

Earlier this summer, the Bank of China travelled to Taiwan on a road show promoting the Society for Worldwide Interbank Financial Telecommunication's Swift open account Trade Services Utility TSU. While no cross-strait deal was reported during the trip, it signalled a step towards greater integration and simplified trade finance flows between the two countries.

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