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Technical Sales: Tracy Lee Once we have received sufficient information, we will provide a quotation within a week. If the quotation is acceptable, We will have a sample made and shipped to required destination. Upon approval of sample, we will have the product made and shipped. The time from acceptance of quotation until receipt of sample is usually 2-4 weeks. The time from approval of sample until receipt of production for the first order is usually 120-150 days.Subsequent orders are usually 70-100 days.

Contact info:
Tracy A. Lee

111 NE 11th Street   Map
Grand Prairie, TX 75050
Tel: (972) 602-1478
Fax: (972) 660-2845
tlee@firstexind.com

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April 14, 2008

Chinese Regulator Expands Access to the Chinese Market by Taiwanese Banks

Taipei, April 11, 2008 (CENS)--The China Banking Regulatory Commission (CBRC) announced yesterday (April 10) allowing institutions set up by Taiwanese banks in a third place to initiate business in China, in addition to permitting banks in Hong Kong and Macao set up or bought out by Taiwanese banks to establish Chinese branches directly, rather than just buying into Chinese banks according to the original regulation.

Meanwhile, the CBRC has also approved application of Fubon Bank (Hong Kong) to obtain 19.9% stake in Xiamen Commercial Bank, making Fubon Bank the first Taiwanese bank to formally step into the Chinese market.

The liberalization is expected to provide much more convenience access for Taiwanese banks to access the Chinese market, helping them to save on the costs and time for the effort. The move is regarded as a good-will gesture to create a good atmosphere for the possible meeting between Chinese President Hu Jintao and Taiwan`s vice president-elect Vincent Siew in the Boao Forum for Asia in Hainan Island.

In response to the move, Susan Chang, vice chairperson of the Financial Supervisory Commission (FSC), reported yesterday that the FSC will consult with related government agencies as soon as possible for corresponding liberalization for Taiwanese banks to invest in China.

In a press release, CBRC also noted that with the absence of a cross-Taiwan Strait financial supervisory mechanism, it will regard institutions set by Taiwanese banks in a third place as pure institutions from that place and handle their applications to initiate business in China with favorable stance.

It will also treat favorably applications by banks set up or bought out by Taiwanese banks in Hong Kong and Macao to set up Chinese branches under the CEPA (Closer Economic Partnership Agreement) mechanism.

(by Philip Liu)

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