CCB BECOMES AGENT OF 45 LOCAL BANKS IN TAIWAN

AsiaInfo Services, February, 2003

AsiaInfo Services 02-25-2003 CCB Becomes Agent of 45 Local Banks in Taiwan BEIJING, Feb 25, 2003 (SinoCast via COMTEX) -- China Construction Bank (CCB), one of the 4 biggest state-owned commercial banks, has become the agent of 45 Taiwan local banks. CCB becomes the commercial bank in China inland which owns most cooperators in Taiwan. In July 2002, CCB opened the first L/C to a Taiwan local bank.

Since that, CCB has set up agency relationship with 30 Taiwan local banks including E.Sun Bank. Additionally, CCB has begun to cooperate with the Taiwan branches of 15 foreign-funded banks (including Mizuho Bank) in remittance and L/C businesses. It is said that the 45 banks enjoy totally 90% of the market shares and clients in Taiwan. Their branches cover over 80%...

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