For localádistributors and manufacturers of investment products in Taiwan, the most important headline number is a recent estimate by the Central Bank of China, Taiwan's central bank, that domestic investors sent over NT$1 trillion $30.9 billion offshore over the course of 2005 - while the domestic unit trusts industry remained flat.
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This, coupled with more intense competition from foreign fund managers and service providers onshore or selling products domestically from offshore, has convinced some Taiwanese firms that in order to grow their business, they need to target non-resident Taiwanese.
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Fubon Bank is at the forefront of this move, and is looking to expand its modest presence in Hong Kong into a full-service...
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