Taiwan-based Hua Nan Financial has signed a cooperation memorandum of understanding (MOU) with China Huarong Asset Management (CHAMC).

Under the agreement, both the firms will introduce training programs for their employees, while hastening information exchanges and sharing legal and tax information across the Taiwan Strait.

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The MOU will enable Hua Nan Financial to expand its presence into the Chinese market.

Additionally, the securities business arm of Hua Nan Financial is planning to establish a joint venture in China and also Hua Nan Asset Management, another a of Hua Nan Financial, is seeking to expand into the mutual fund market in China.

CHAMC, which has more than CNY400bn in total assets, delivers a wide range of financial services, including asset management, banking, finance leasing, trust, and securities and futures trading.

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