China Eastern Opens Office in Taiwan
China Eastern Airlines said it has received approval to open an office in Taipei for administrating its new charter flights between Taiwan and mainland China, state media reports. China Airlines and Eva Air will act as sales agents until the new branch is completed. China and Taiwan agreed to cross-Strait charter flights in June, and the first flights landed last week. Six carriers from China and five from Taiwan are permitted to operate the flights.
Overseas Banks Increase Assets in China
According to a new report by the China Banking Association, the total
assets of overseas banks in China topped USD193 bn as of March. This is
an annual increase of 55 per cent, the report said. However, the USD193
bn accounts only for 2.44 per cent of total bank assets in China. Since
1996, some 33 overseas banks now own minority shares in 25 Chinese
banks, with a total investment worth USD21.3 bn.
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