Taiwan’s FSC looks to attract more Mainland money
22 August 2012
News, Asia, China, Taiwan, Greater China
Taiwan’s Financial Supervisory Commission (FSC) is contemplating easing constraints on qualified domestic institutional investors (QDII), according to a report from the United Daily News on Wednesday (August 22).
By doing so, the FSC anticipates luring more capital from Mainland QDII lenders and insurers to Taiwan. The FSC is tentatively planning to raise the investment ceiling to over US$1 billion from the current $500 million.
Jih-Chu Lee, political vice chairperson of the FSC, notes that the quota has yet to be finalised and says it is dependent on the growth of RMB deposits following domestic banking units fully initiating their RMB operations.
The FSC is also studying the feasibility of developing a cross-border platform to facilitate capital remittance within the Greater China region.
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