The nation's capital market has its niche and advantages to compete with regional rivals such as Hong Kong, Singapore and China, despite political disturbances and corporate governance scandals that have haunted the market, an industry veteran said yesterday.
"Taiwan's capital market has a big niche compared to other Asian countries," Morris Li (利明獻), chief financial officer of Citibank Taiwan, said in a forum organized by Monte Jade Science & Technology Association of Taiwan (玉山科技協會) and China Development Financial Holding Corp (中華開發金控).
Taiwan's huge foreign exchange reserves and stable GDP as well as its strong manufacturing and commercial bases all give the nation a competitive edge, he said.
Even though Citibank has made Hong Kong and Singapore its regional hubs, the bank offers products of the highest completeness and complexity and enjoys its best profitability in Taiwan, Li said.
The importance of Taiwan's market to the bank will rise, he said.
Taiwan, however, needs to relax its regulations over initial public offerings (IPO) since it is inevitable that local companies will want to invest in China to cut costs, said Dickson Ho (
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