Mainland, Taiwan clinch financial regulatory mechanism amid global crisis

Arrangements for cross-Strait monetary clearing would also be built, the agreement said.

The ARATS and the SEF encouraged relative institutions to create conditions for increased cooperation to facilitate the accessibility of each other's market.

Meanwhile, the ARATS and the SEF ensured that the respective financial regulators would provide each other financial and monetary regulatory information and pivotal decisions that regulators deem might have consequences on the other's financial market.

The agreement, however, emphasized that the exchange of financial information would only be used for financial or monetary regulatory purposes in a mutually-assured confidential way.

The two sides agreed that financial and monetary cooperation could also be realized by personnel exchange, professional training, technological partnership and information exchange.

In addition to the financial cooperation agreement, the ARATS and the SEF also signed two documents on regular cross-Strait flights and mutual assistance in criminal matters on the same event.

Editor:Zhang Ning