Bank of Taiwan
The Bank of Taiwan was established as Taiwan's central bank in 1899, during Japanese rule. The bank's creation was authorized in 1897 by the Bank Act of Taiwan which encouraged Japanese enterprises, such as the Mitsubishi and Mitsui Groups, to invest in Taiwan. Extensive cooperation ensued between the Nippon Kangyo Bank and the Bank of Taiwan. A financial crisis facing these banks in 1927 was relieved with assistance from the Bank of Japan. Bank branches were created in other parts of Asia as the Japanese empire expanded, including areas in China and Southeast Asia.