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.
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%.
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 threshold for companies from both sides, with the Chinese mainland to open 80 service sectors to Taiwan, while Taiwan will open 64 sectors to the mainland.

Beijing will first allow two or...

¬ Haymarket Media Limited. All rights reserved.

FinanceAsia has updated its subscription model.

Registered readers now have the opportunity to read 5 articles from our award-winning website for free.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences.

To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222

Article limit is reached.

Hello! You have used up all of your free articles on FinanceAsia.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences. To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222