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Taiwan's Chang Hwa Commercial Bank opens new branch in Manila

Chang Hwa Commercial Bank Ltd. opened a new branch in Manila, as the Taiwan state-run lender seeks to expand its footprint in Southeast Asia, the Taipei Times reported July 5.

The July 3 branch opening supports the Taiwanese government's New Southbound Policy, which encourages companies to cut their reliance on China, as well as take advantage of the nation's fast-growing economy, according to the report.