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Taiwan-China trade ties expected to grow: survey
Central News Agency
2014-07-12 08:19 PM
Taipei, July 12 (CNA) Sixty-four percent of Taiwanese companies expect their trade engagements with China to grow at least 5 percent in the next 12 months, a survey conducted by HSBC Bank Taiwan Ltd. showed Saturday. The survey also found that 68 percent of Taiwanese companies that are using the Chinese currency in cross-border trade settlements expect yuan settlements to increase over the next year, helping to lower foreign exchange risks. Taiwanese enterprises are optimistic about demand for the Chinese currency for cross-border trade settlements and believe that they could gain a competitive edge in the process, according to the poll. "Chinese companies prefer partners who are willing to use the yuan in a show of goodwill, which also has cost benefits," HSBC Taiwan commercial banking head Stanley Hsiao said, commenting on the poll. The survey on Chinese yuan cross-border trade settlements was conducted between April and May by telephone. It polled 1,300 decision-makers in 11 markets --Taiwan, Hong Kong, mainland China, Singapore, Australia, Germany, France, Canada, the U.K., the U.S. and the UAE -- who represent companies with annual sales of more than US$3 million and conduct international business with or from China. (By Wu Ching-chun and Evelyn Kao)
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