Economy

Taiwan Pushes Financial Reforms To Attract Global Capital

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By TaiwanPlus

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Taiwan wants to become a major Asian asset management center and a hub for global investment, President Lai Ching-te said at the opening of Taiwan Weeks, a financial industry forum organized by the Taiwan Stock Exchange. Lai said the government has changed more than 60 regulations to internationalize Taiwan’s financial markets, align reporting standards with global practices and make it easier for innovative companies to access funding. Financial Supervisory Commission chair Peng Jin-lung said Taiwan’s semiconductor industry needs stronger capital markets to secure the funding, talent and international connections required for continued growth. The government also plans to accelerate work on new legislation covering financial markets and asset management.

Taiwan Aims to Be an International Investment Hub

REPORTER:  
Taiwan is working to become a more mature investment market. That was President Lai Ching-te’s message at the opening of Taiwan Weeks, a global forum held by Taiwan Stock Exchange.

Lai Ching-te (TAIWAN PRESIDENT):  
We are actively building Taiwan into an Asian asset management center and a key hub for global asset allocation.

REPORTER:  
Lai said the government has changed more than 60 regulations, aiming to internationalize Taiwan's financial market. These changes would implement more global reporting standards and make it easier for companies to get funding. To achieve that goal, the head of the Financial Supervisory Commission said the government will push for a new law overseeing finance and asset management.

Peng Jin-lung (CHAIR, FINANCIAL SUPERVISORY COMMISSION):  
Taiwan has built a complete semiconductor supply chain and plays a pivotal role in global tech development. To sustain this industrial advantage Taiwan needs capital markets to provide the funding, talent and global connections needed for continued growth.

REPORTER:  
Events for Taiwan Weeks will run through November 13th.

Peng Jin-lung (CHAIR, FINANCIAL SUPERVISORY COMMISSION):  
We will draw more actively on successful international models, and build on Taiwan's own strengths, to develop regulations and policy incentives aligned with international standards. We will step up our efforts and speed up work on the draft Financial Markets and Asset Management Development Act.