15-Oct-2007 9:06 AM
Taiwan's Cathay Life JV obtains mainland approval to prepare for Beijing branch
Analysis
Under existing laws, another license will have to be issued for the actual opening of a new branch.
Cathay Life and the China Eastern Airlines Group formed the joint venture in Shanghai in early 2005.
In today's trade in Taipei, Cathay Financial closed down 3.40 twd, or 4.06 pct, at 80.40.