Taiwan will further liberalise its economy and offer more financing products, aiming to become an Asian financial and asset management hub, ...
Taiwan will further liberalise its economy and offer more financing products, aiming to become an Asian financial and asset management hub, President Tsai Ing-wen said on Wednesday, pitching the island at a time of turmoil in next-door Hong Kong.
Export-dependent Taiwan, which already has a very open economy, is trying to diversify away from its traditional reliance on trade with China, its largest trading partner but also a political rival, with Beijing claiming democratic Taiwan as its own territory.Instability in Chinese-ruled Hong Kong, especially after Beijing enacted a new national security law there, has called into question how long the city can remain Asia's dominant financial centre.
Speaking to the Third Wednesday Club, a business group made up of 78 of Taiwan's most important companies including Foxconn , the world's largest contract electronics manufacturer, Tsai made no direct mention of Hong Kong.Advertisement "The government will continue to adopt even more open measures, open up diverse financial products, expand the scope of our wealth management business, and let Taiwan become an Asian corporate financing centre and high-level asset management centre.
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