Sectors

China-Taiwan MoU seen as symbolic

Date: 17 Nov 2009

The memorandum of understanding signed this week to improve financial services access between China and Taiwan will have limited impact, say analysts. They see it as testing political waters ahead of the full free-trade pact, expected to be signed early next year.

Keywords (click to search): [China] [Taiwan] [memorandum of understanding] [MOU] [Dexter Hsu] [Yuanta Securities] [Chinatrust] [Fubon] [Sinopac]

Pamela Tang
Analysts say the signing of a memorandum of understanding (MoU) this week to open financial services access between China and Taiwan is little more than a symbolic gesture.

They voiced their views despite the fact that the accord, signed on November 16, was warmly welcomed by equity investors. On the same day, the benchmark Taiex Index advanced 1.66% to close at 7,792.68, its highest level year-to-date.

Analysts see the MoU – which expands communal access to banks, brokers and insurers – simply as a forerunner to the Economic Cooperation Framework Agreement (ECFA), the free-trade pact between the Taiwan and China which is expected...

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