The Financial Supervisory Commission (FSC) said that it is establishing offshoring banking, securities and insurance units for the Chinese.
FSC Chairman William Tseng made the remarks at a cross-strait financial forum on Friday. He said that the regulations for offshore banking units (OBU) and offshore securities units (OSU) were very comprehensive. Those for offshore insurance units (OIU) will be sent to the Executive Yuan next month.
Over 2.85 million Chinese come to Taiwan every year. The FSC will select relevant financial products so they could invest in Taiwan.
He also said he welcomes Chinese banks to come to Taiwan and issue renminbi Formosa bonds. He said these financial products could help Taiwan become an offshore center for the renminbi.