Beijing, June 13 (IANS) China's third-largest bank, the Bank of China, will open a branch in Taipei.
Taiwan's financial regulator gave its approval Wednesday, Xinhua reported.
The branch will focus on bank deposits, loans, bill financing, commercial acceptance bills, credit letter issuing, bond investment, corporate bond guarantees and issuance.
The bank earned about 130 billion yuan (about $20 billion) in post-tax profits in 2011, up 18.81 percent year-on-year.
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