SITENAME Logo

Taiwan plans to be a financial hub, much like Hong Kong.

High-level foreign companies have shown increased interest in Taiwan.


Taiwan plans to be a financial hub, much like Hong Kong.

In a move to further drive the country's economy, Taiwan President Tsai Ing-wen (蔡英文) said that plans to turn the island nation into a financial and asset management center are on the horizon.

The country presently derives most of its growth from exports, with China being its largest trading partner

With Hong Kong's position as a financial hub slowly eroding due to China's new national security laws, this could be an opportunity for Taiwan to capitalize on.

Taiwan President Tsai Ing-wen.

President Tsai also adds that more and more internationally renowned companies have expressed interest in this move.

She also adds that the government's goal is to sign more bilateral trade deals, including one with the United States.

Many of such international trade deals have not materialized due to fears of potentially infuriating China.

“More and more internationally renowned companies, and even more international-level capital, talent, and technology companies, are bullish about Taiwan, and coming to Taiwan and increasing their investment in Taiwan. The government will continue to adopt more open measures, open up diverse financial products, expand the scope of our wealth management business, and let Taiwan become an Asian corporate financial center and high-level asset management center,” the president said.

BEAMSTART is a global business community with the aim of connecting people to opportunities. Expand your network, discover new possibilities, and explore a vast database of resources that can help you go further in your business and career.

 

Download the App

Never miss an opportunity again. Be part of the global community of CEOs, Business Leaders, and Professionals. Download below to instantly form partnerships and discover opportunities:

© 2016 - 2020 BEAMSTART. All Rights Reserved (Legal).