|
Since China is enlisted in WTO in the end of 2001, the market is thus sequentially opened to foreign WTO member. Foreign banking institutes lined up to establish their business in China. As the China committed WTO items to open financial service market has been fully realized in the end of 2006, foreign banks accelerated their paces into China. Taiwan’s banking system has been cultured to international level after experiencing the financial storm of Southeast Asia, internet stock bubbles, abuse of plastic currency, financial crisis, etc.; therefore, Taiwan’s banking system has transformed and developed towards diversified and internationalized directions. As the regulatory MOU between Taiwan and China has been executed on November 16, 2009, Taiwan-based banks are statutorily permitted to establish business offices and branches in China. After China market of financial services is gradually opened to Taiwan banks, the great business opportunities spur Taiwan banks to move forward into China. The advantages for Taiwan banks to establish branches and service networks in China include（a）enlargement of the operation scale of Taiwan banks; (b) strengthening the competitiveness in international market; (c) releasing the heat of competition in Taiwan market and (d) providing solution to small and medium Taiwan-based enterprises in China for their financing issues. However, the difference of bank scale between Taiwan and China is still huge, and the mutual trust must first be established. Taiwan-based banks must launch a full scale plan and evaluation including the strategies of (a) business model; (b) amount of investment; (c) choice of business territory; (d) business promotion, etc. The interaction principles between two banking systems shall be in material, equivalent and balanced. In short, the values of Taiwan-based banks are experience, human resource and service efficiency while the advantages of China are market and the scale of bank networks. Both Taiwan and China bankers must learn from each other and grow the business jointly under continuous adjustment and reformation. Currently, both Taiwan and China must improve their international competitiveness, and the best strategy is to raise the business style and vision to achieve the objectives in collaborative manner.
|