The Financial Supervisory Commission (FSC) has said that the financial supervisory platform for securities and futures between China and Taiwan is expected to hold its first meeting in Taiwanese capital, Taipei tomorrow.

FSC Chairman Chen Yuh-chang and China Securities Regulatory Commission Chairman Guo Shuqing will chair the meeting that is scheduled to be held at Taipei 101, according to a statement on the website of FSC. The two sides had signed a memorandum of understanding on cross-strait financial supervision in November, 2009. China and Taiwan also implemented a supervision deal on banking, brokerages and insurance sectors on 16 January, 2010.

The FSC said that the financial trade between the two sides have been on the rise and the authorities are required to meet regularly for the establishment of a cross-strait financial supervisory platform to enable the development of the financial markets and exchanges between China and Taiwan. The FSC said that first meeting will focus on the planned platform and the operation of the supervisory mechanism.

"This platform will allow the two sides to proceed with policy negotiations over market access and discussions over securities and futures businesses, as well as serving as a venue for information and exchange of opinions on supervisory regulations," the statement said.