Another reason why China and Taiwan will try their utmost not to go to war.
Reuters: “Fubon Financial (2881.TW), one of the most aggressive Taiwanese financial firms expanding into the Chinese market, said on Thursday it will buy an 80 percent stake in China’s Firstsino Bank for 6.45 billion yuan ($1.03 billion).
Map of the Taiwan Strait (Photo credit: Wikipedia)
The acquisition would be another sign that banking links across the Taiwan Straits are strengthening. Taiwan’s financial companies are keen to tap the huge mainland market as trade ties between the former political foes boom, helping them move beyond a saturated domestic market.
“It will help us build a complete platform in Greater China, paving the way to enter the fast-growing areas in China,” Fubon said in a statement, adding that the purchase is subject to regulatory approvals from both sides.”
via Taiwan’s Fubon says to buy China bank stake for $1 billion | Reuters.
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