By: Tien Yu-pin and Frances Huang
Taipei, April 25 (CNA) Hua Nan Commercial Bank (華銀), a banking arm of Taiwan-based Hua Nan Financial Holding Co. (華南金控), said Saturday that it will open a branch in Fuzhou, the capital city of Fujian province, next month.
The bank said it had high hopes for the new branch, expected to begin operations on May 13, as Taiwan-based investors including the bank are eligible for preferential incentives from Fujian authorities.
Fuzhou is one of the regions covered by Beijing’s “One Belt, One Road” economic growth initiative, and the bank said the new branch hopes to take advantage of the initiative, which spans Asia-Pacific and European economies encompassing 3.81 billion people and US$16.42 trillion in economic output. [FULL STORY]