Want China Times
Editorial
Date: 2015-06-14
Despite rapid progress in cooperation between the financial sectors across the Taiwan Strait
![Representatives of 57 founding member nations mark the establishment of the AIIB in Singapore, May 22. (Photo courtesy of AIIB)](https://i2.wp.com/www.eyeontaiwan.com/wp-content/uploads/2015/06/C522X0261H_2015資料照片_N71_copy1-300x200.jpg?resize=300%2C200)
Representatives of 57 founding member nations mark the establishment of the AIIB in Singapore, May 22. (Photo courtesy of AIIB)
since the signing of a financial cooperation agreement in 2009, challenges have emerged because of stalled relations in the last couple of years.
The halted legislative review in Taiwan of the trade-in-services agreement signed in 2013 has restricted the expansion of Taiwanese banks and brokerage firms in China. No new progress has been made over a proposed currency swap agreement that has been discussed between the two sides for some time.
Given these developments, Taiwanese and mainland financial regulators should explore new avenues and seek a breakthrough in cooperation in this area. One area worth trying is the capital market, since Taiwan has seen renminbi deposits exceed 300 billion yuan (US$48.35 billion) in just two years but has not been able to increase the use of the funds for investment purposes. [FULL STORY]