Taiwan government promotes financial sector reform

Last Thursday, the Taiwanese government went to New York to promote reform, consolidation and privatization of the domestic financial sector.

Over 200 fund managers, investment bankers and Taiwanese government officials gathered in New York last Thursday to hear the government's plans for consolidating its fragmented financial sector. Finance Minister Lin Chuan re-iterated the government's determination to accelerate the consolidation process and create a national and regional champion that can compete against the likes of Korea's Kookmin or Singapore's DBS.

With him were officials from the recently established Financial Supervisory Commission FSC and the Council for Economic Planning Development CEPD as well as the representatives from seven state-owned financial services groups - First, Hua Nan, Mega, Land Bank, Taiwan Business Bank and Taiwan Co-Operative Bank - all soliciting fund managers' interest...

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