Beijing to approve Taiwan securities JVs by year-end

Long-awaited move will see two or three Taiwanese securities houses allowed to set up mainland joint ventures as a pilot test and then other firms’ JV plans will be reviewed.

Beijing to approve Taiwan securities JVs by year-end
Taiwan’s securities industry is suffering due to new securities taxes, which led to trading volume dropping 53%, and the stock market losing 14.3%.

China will open its capital markets to Taiwanese securities houses by the end of the year by approving a batch of joint ventures with mainland peers, according to people familiar with the situation.

The move follows a cross-Strait service trade pact signed in June, one of several follow-up deals to the Economic Cooperation Framework Agreement, a comprehensive cross-Strait economic pact signed in 2010.

June’s service trade pact stipulates a lower market access...

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