The China Banking Regulatory Commission (CBRC) has recently ratified the opening of five branches of five Taiwan-based commercial banks on the Chinese mainland, said a CBRC official Friday in Beijing.

The branches are the Shanghai Branch of Taiwan First Bank, the Shanghai Branch of Taiwan Cathay United Bank, the Shanghai Branch of Taiwan Land Bank, the Kunshan Branch of Taiwan Chang Hwa Bank, and the Suzhou Branch of Taiwan Cooperative Bank.

The opening of the five branches will help promote the economic and trade relations between the Chinese mainland and Taiwan, said the CBRC official.