Taiwan to let brokerages invest in China
* regulator to let brokerages invest in China by end of 2008
* sees agreement by end of 2009 to boost closer trade ties
* sees some China investment in Taiwan mutual funds, stocks by end of 2009
(Adds quotes and details)
By Rachel Lee and Baker Li
TAIPEI, June 20 (Reuters) - Taiwan's incoming top financial regulator said on Friday he aims to allow local brokerages to invest in their Chinese counterparts by the end of 2008 as part of a plan to boost trade ties with China.
Taiwan allowed local banks to invest in mainland lenders via their offshore subsidiaries earlier this year and a similar model was likely for brokers, said Gordon Chen, who becomes chairman of the Financial Supervision Commission (FSC) on July 1.
"I think indirect investments will be acceptable at the first stage and brokerage houses can invest through their Hong Kong units," Chen, who replaces Hu Sheng-cheng, told Reuters. Continued...
Greek crisis sets euro zone enlargement back
The Greek debt crisis has dealt a setback to prospects of enlarging the euro zone by highlighting the difficulties of managing the single currency area. Full Article
Good for Afghanistan efforts
An easing of tension between India and Pakistan should help U.S.-led efforts to stabilise Afghanistan. Full Article
