Tue, Jul 30, 2013 - Page 13 News List

FSC’s Chen lacked boldness: academics

STIFLING:Critics of the outgoing FSC chairman said his strict supervision stifled the economy, a claim he countered with the rise in bank loans to small and medium firms

By Crystal Hsu  /  Staff reporter

Shen Chung-hua (沈中華), who teaches finance at National Taiwan University, said Chen and the FSC should have been more active in communicating with companies to resolve the unnecessary standoff that ensued over policy differences.

“Chen is not a bad regulator, but the public and financial firms expect more in the face of growing economic competition from abroad,” Shen said.

However, Chen argued that the commission has been helpful in boosting the economy, pointing to the increase in bank loans to small and medium-sized enterprises.

Chen, who is considered a protege of President Ma Ying-jeou (馬英九), cautioned that economic development plans must not be carried out at the cost of compromising financial stability.

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