TAIPEI May 12 Taiwan's Gre Tai Securities
Market will by the end of this year sign a deal with the Eurex
Exchange to provide cross-border exchange services in Chinese
yuan-denominated bonds, Gre Tai representatives said on Monday.
The deal will allow European and Taiwan firms to offer bonds
denominated in Chinese yuan on the other's territory and trade
such financial products between the two regions. The Gre Tai
representatives did not specify when such trading would begin.
Gre Tai chairman Soushan Wu said that among all the markets
issuing yuan-denominated bonds, Taiwan is the only one that
boasts a trade surplus with the mainland, giving firms here a
potentially large pool of yuan-denominated financial products
for them to trade overseas.
Financial sector ties between Taiwan and mainland China have
grown rapidly. Upto now, Taiwan has issued 12.1 billion yuan
($1.94 billion) worth of yuan-denominated bonds, also known as
Formosa bonds, though it distantly trails other off-shore
financial centres, Hong Kong, London and Singapore, in total
($1=6.2280 Chinese Yuan)
(Reporting by Roger Tung; Writing by Michael Gold; Editing by