The agency for dealing with Beijing, the Mainland Affairs Council, has signed off on hundreds of proposals for liberalizing Taiwan's commerce with archrival China. If these are approved by Taiwan's Cabinet, as expected, the country's banks will be permitted to deal with mainland banks in places such as Hong Kong. China Airlines Ltd., Taiwan's main carrier, will also be able to sell tickets in its offices outside of Taiwan for travel to the mainland. Although the Taiwanese business community was disappointed by the failure of the council to sanction direct trade links, commerce between the two Chinas is approaching the $ 6 billion-per- year mark anyway.

Before it's here, it's on the Bloomberg Terminal. LEARN MORE