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July 22, 2017

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KMT's Lien pushes for currency settlement pact

TAIPEI -- Honorary Chairman Lien Chan of the ruling Kuomintang (KMT) yesterday expressed the hope that both sides of the Taiwan Strait would sign a currency settlement agreement in the near future.

"I hope very much that both sides sign the pact, which will help promote cross-strait trade and investment, as well as boost financial exchanges. This will be important for economic stability," he said.

China has in recent years actively promoted the globalization of its currency, the yuan, and has signed pacts on currency exchange with other countries, he noted.

Taiwan should also promote financial operations with distinctive cross-strait features, Lien said at the opening of a trade and economic forum, which was sponsored by the Economic Daily News, a local newspaper.

Asked about cross-strait talks on a currency settlement mechanism, An Min, vice president of China's Association for Relations Across the Taiwan Straits who also attended the forum, said "everything should go faster, but the goal has to be reached step by step."

Also present was Li Lihui, president of Bank of China, who said that the bank's establishment of a branch in Taiwan was mainly to serve clients on both sides of the Taiwan Strait.

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