Taiwan's CTBC Financial, China CITIC Bank cancel deals

Business Insider 9 hours ago 

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By Faith Hung and Shu Zhang TAIPEI/BEIJING (Reuters) - Taiwan's CTBC Financial Holdings , parent of Taiwan's top credit card issuer, and Chinese state-backed lender China CITIC Bank Corp have canceled investments in each other amid fresh political tensions between the two countries. It is the first deal collapse since pro-independence Democratic Progressive Party (DPP) leader Tsai Ing-wen became president of Taiwan in May, but China CITIC Bank's president said there was no political aspect to the decision. "There is not a single political element to it. We are a commercial bank. We can’t play a leading role in politics," Sun Deshun told a press conference in Beijing. CTBC and China CITIC Bank ...

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