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(From Taiwan Economic News)
Taipei, Nov. 23 2005 (CENS)--In order to bypass the barrier for Taiwanese banks to tap the mainland Chinese market, Fubon Financial Holding plans to have its affiliated Fubon Hong Kong Bank invest in city-level commercial banks in China
Fubon plans to spend some NT$1 billion-2 billion for such investment, since foreigners can at most retain 20% shareholding in Chinese banks and most of these city-level banks are capitalized at around 2 billion yuan. Fubon Financial used to treat its Hong Kong branch as the springboard for developing the Chinese-market business, including providing loans and wealth-management services to Taiwanese …