February 7, 2013 / 9:21 AM / in 6 years

CORRECTED-Taiwan accepts China CCB application to open branch

(Corrects headline and first paragraph to show Taiwan has accepted CCB application to open its first branch, not approved the first branch.)

TAIPEI, Feb 7 (Reuters) - Taiwan has accepted an application from China Construction Bank (CCB) to set up its first branch in Taipei, the top financial regulator said on Thursday, in the latest sign of warming financial ties across the Taiwan Strait.

Bank of China and Bank of Communications have opened their first branches on the island.

Business ties between the both sides have gathered steam. On Wednesday, China’s yuan traded in Taiwan for the first time, a further step in Beijing’s march to boost the currency’s global reach and promote deeper economic integration with its one-time political foe. (Reporting by Emily Chan; Editing by Ron Popeski)

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