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Bank SinoPac gets approval from FSC to set up a subsidiary in China

Taiwan-based Bank SinoPac has won approval from the Financial Supervisory Commission (FSC) to set up a subsidiary bank in Nanjing, China. This is the first time that the FSC has approved the setup of a subsidiary bank in mainland China by a domestic bank and it will become the first Taiwanese-invested subsidiary bank in the mainland, if approved by the…

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