Shenyin Wanguo will open a Taiwan office to pursue its wealth management business, becoming the first mainland firm to set up an office on the island, local media reported yesterday.

The brokerage will set up its Taiwan office via an offshore subsidiary, with plans to test the market toward the end of May, the Economic Daily reported.

It said the company would hold a set of briefings to discuss the mainland stock market and future trends on May 29 and May 30 in Taipei and Taichung.

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