Mainland ready to sign MOU with Taiwan

The spokesman for State Council Taiwan Affairs Office, says the mainland is prepared to sign a memorandum of understanding on financial supervision with Taiwan, as a prelude to establishing reciprocal financial branches. Yang Yi made the announcement at a press conference Wednesday morning.

Yang Yi said, "We are ready to sign the memorandum with Taiwan. As to the location, time and form of the signing, the Chinese mainland will have no problem."

Yang Yi said that the signing of a cross-Strait MOU is a prerequisite for both sides to establish financial branches and buy shares in each other's financial institutions.

Yang Yi also said that since 1990 the mainland has repatriated a total of 381 criminal offenders back to Taiwan. He said great progress has been made in cooperation between the two sides in the fight against financial crimes.