Wednesday signaled a breakthrough for Chinese financial institutions as the Industrial and Commercial Bank of China became the first mainland bank to acquire a controlling stake in a US counterpart
Preferential policies for cross-strait investment are benefiting Taiwanese entrepreneurs. While some are still concerned about risks such as exit restrictions and the dispute resolution mechanism, foreign financial institutions are already benefiting from the growing business.
The National Development and Reform Commission released a new policy this month stopping foreigners from obtaining medium- or long-term mortgages. This is the latest move by the government to cool China's property market.