Taiwan companies are seeking further opportunities for cooperation with Shanghai businesses in the financial sector, CCTV reported Tuesday.

More than 100 experts from the two regions have attended a forum in Shanghai to discuss the future possibilities.

Presently, there are 21 Taiwanese-funded financial institutions in China's economic powerhouse. Of them, three are the representative offices of the Taiwan Bank; four represent different insurers from Taiwan; while Taiwanese securities firms boast the strongest presence in Shanghai, with a whopping 12 representative offices.

Furthermore Taiwanese firms have also set up two joint ventures in the banking and insurance sectors.

At the same time, Shanghai banks are reporting a growing number of transactions with their Taiwanese counterparts as investors from the island are becoming more active than ever in the coastal city.

(Xinhua News Agency October 27, 2004)