The Bank of Taiwan has inaugurated a sub-branch in the Chinese city of Shanghai.
The opening of the Jiading Sub-branch in Shanghai on Friday brought the Bank of Taiwan’s points of service in China to two. The bank’s chairwoman, Lee Jih-chu, said Jiading is an important hub for Taiwanese businesses operating in China. She also said that “in the next few days” the bank can start offering comprehensive renminbi banking services to all Taiwanese businesses based in China and Chinese customers.
Lee said that in order to provide better service to Taiwanese businesses in China, it will soon open branches in Guangzhou and Fuzhou. She also said the bank plans to set up a subsidiary in Shanghai because of the city’s development potential.