Taiwan's premier yesterday quashed speculation that mainland investors would soon be able to acquire Taiwan banks as he sought to calm fears that cross-strait relations were moving in a direction that would jeopardise the island's sovereignty.
Wu Den-yih said the government had no plans to relax restrictions barring mainland investment in Taiwan banks.
But under a memorandum of understanding on financial co-operation signed last month, “a couple of” mainland banks could gain approval to open branches on the island, he said.
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