Taiwan-based KGI Securities inks first-of-kind accord with Chinese counterpart


CNA

TAIPEI — KGI Securities, a Taiwan-based securities firm, has signed a memorandum of understanding (MOU) with China’s Industrial Securities for future business cooperation, marking the first time the company has inked such an agreement with a Chinese securities firm.

The signing of the document at a ceremony held on Wednesday in Fuzhou City, the capital of China’s Fujian province, aims to enhance efforts to penetrate the huge mainland market and boost business exchanges across the Taiwan Strait. According to KGI Securities, Fuzhou-based Industrial Securities ranks the largest securities house in the Haixi Economic Zone, which has been designated by Chinese authorities to lead development of the economy on the west side of the Taiwan Strait.

As one of the listed companies on the Shanghai Stock Exchange, Industrial Securities currently boasts a market capitalization of about 22.6 billion yuan, the Taiwanese partner said.