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Cross-Straits financial cooperation to follow HK model

By Yang Zhen (chinadaily.com.cn)
Updated: 2009-03-06 14:31

The Chinese mainland's financial cooperation with Hong Kong can serve as a good example for cross-Straits financial relations, Zhou Xiaochuan, head of China's central bank, said on Friday at a press conference of the ongoing National People's Congress.

Market demand will decide what kind of financial services will exist between the mainland and Taiwan, Zhou said.

The mainland will increase financial cooperation with Taiwan amid the global financial crisis, Premier Wen Jiabao said in the work report at the opening meeting of the annual full session of the NPC.

The central government will offer financing support for qualified Taiwan enterprises operating on the mainland, said Wen.

Taiwan banks should be able to enter the massive mainland market in the second half of 2009 after a historic cross-Straits financial services agreement is signed in May or June, Reuters reported earlier.