Regulatory officials from Taiwan and Hong Kong have announced that an official letter of intent will be signed in April to allow funds from one jurisdiction to be sold in the other.
The deal, initially agreed in January, means that the each territory's financial market will be legally recognised by the authorities of both jurisdictions.
The latest agreement followed a meeting between Taiwan’s Financial Supervisory Commission Chairman, Kong Jaw-sheng and the chairman of Hong Kong's Securities and Futures Commission, Andrew Sheng in Taipei last week.
Commenting on the bilateral agreement, Kong told reporters that: “We have reached an initial consensus to foster further cooperation in the financial services industry between Taiwan and Hong Kong.
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