Taiwan says raises yuan bond issuance limit for this year

TAIPEI Thu Aug 7, 2014 9:59pm EDT

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TAIPEI Aug 8 (Reuters) - Taiwan financial regulators said on Friday they have raised the limit for yuan bonds to be issued in Taiwan this year to $20-25 billion yuan from $10-15 billion yuan planned earlier.

Financial ties with China have grown apace since President Ma Ying-jeou took office in 2008. Taiwan has set a goal to be an offshore yuan center, which will allow Chinese banks to sell yuan bonds, known locally as "Formosa Bonds."

"We welcome Chinese banks to sell Formosa bonds," chairman William Tseng of the Financial Supervisory Commision said at a business event.

(Reporting by Faith Hung; Editing by Shri Navaratnam)

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