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 | Friday, April 28, 2000, updated at 09:39(GMT+8) | ||||||||||||
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Banks from Shanghai, HK, Taiwan Probe Further CooperationTop executives from three banks based in Shanghai, Hong Kong and Taiwan gathered on April 27 at a seminar on banking cooperation.The three banking institutions are the local Bank of Shanghai, and the Shanghai Commercial Bank and Shanghai Commercial and Savings Bank based in Hong Kong and Taiwan respectively. Officials from the People's Bank of China and Shanghai municipal government, and senior directors of the three banks attended the seminar and discussed prospects of joint development and long-term cooperation to face the challenges and opportunities after China enters the World Trade Organization (WTO). The three banks will cooperate in a variety of banking services such as asset restructuring, equity transfer, payment and credit, among others, to attract more clients. At the same time, the banks will host regular information exchanges in economic, finance and law fields. The Taiwan-based Shanghai Commercial and Savings Bank was set up in Shanghai in 1915, the Hong Kong business is an entity separated from the Taiwan bank, and the Shanghai bank was established in 1995. Two years ago, they hosted a similar seminar.
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