CHINA'S banking regulator plans to approve the applications of four Taiwan banks to open branches on the mainland, in the latest efforts to strengthen financial cooperation.

The branches will be allowed to conduct yuan and foreign currency-related business on the mainland, the China Banking Regulatory Commission said in a statement on its website yesterday.

To date, 15 Taiwan banks have established six branches and 10 representative offices on the mainland, the statement said.

Source:shanghaidaily