By Ted Chen / Staff reporterThe Financial Supervisory Commission (FSC) on Thursday said that it was too early to gauge the effects of China’s “gift package” to Taiwan’s financial sector. China’s Taiwan Affairs Office (TAO) on Wednesday outlined 31 incentives to promote cross-strait economic and cultural exchanges and cooperation, including three targeted at the financial sector. Beijing is to allow collaboration between Taiwanese and Chinese credit agencies to better serve lenders and investors on both sides of the Taiwan Strait, the TAO said, adding that Taiwanese banks would be able to work with their Chinese peers on lending opportunities. As details on the incentives remain unclear, the commission said it needs more time to assess the terms. While communication with its Chinese counterparts remains smooth, the commission urged Beijing to continue efforts to promote collaboration under the terms specified by memorandums of understanding inked in 2009 and 2010.

Source: Taipei Times March 02, 2018 15:56 UTC