The Bank of China - Taiwan Enterprises Investment and Financing Conference was jointly hosted by Bank of China and the Taiwan Affairs Office of the State Council PRC in September in Kunshan, Jiangsu province.

During the conference, Bank of China's head office and the Association of Taiwan Investment Enterprises on the Mainland signed a Memorandum of Understanding.

In accordance to the memorandum, Bank of China will finance 200 billion yuan ($31.82 billion) for the development of Taiwan enterprises.

Bank of China has been providing Taiwan-funded enterprises with financial support for more than 20 years. It issued roughly 166.2 billion yuan ($26.4 billion) in loans to Taiwan enterprises from 2009 to 2011.

Bank of China's Taipei branch was established this June as the first mainland commercial bank in Taiwan.

Li Lihui, president of Bank of China, said Taiwan enterprises and Bank of China face a great development opportunity in this new period of cross-Straits economic and commercial cooperation.

Zheng Lizhong, deputy director of the Taiwan Affairs Office of the State Council, said this conference will promote positive economic and trade interactions on both sides of the Taiwan Straits. He hoped Bank of China can make use of multiple financing channels and encouraged cross-Straits cooperation and development.

Edited by Chen Zhilin and Michael Thai