The Financial Supervisory Commission (FSC) said yesterday it is considering further easing regulatory restrictions to create a more friendly business environment for domestic securities firms.
The commission said in a statement it plans to allow Taiwanese firms based in China to list on the local bourse, among other measures to invigorate the equities market.
Currently, only Taiwanese firms registered in foreign countries other than China can apply to raise funds on the local stock market, the commission said.
The financial regulator said it would also approve sales of yuan-denominated bonds issued by local and foreign firms, transactions that are presently limited to yuan bonds issued by local firms via offshore banking units.
The planned opening and supporting measures could be in place by the end of the year, the commission said.
The commission is also revising regulations that would provide local securities firms with more favorable taxation terms when they expand their offshore business operations, the statement said.
It also promised to streamline the review process for exchange traded funds, which may gain automatic approval in the future.
The commission said it is coordinating with government-owned funds in the hope that they would pick local securities firms to help manage their assets.
Meanwhile, the Taiwan Stock Exchange and the over-the-counter GRETAI Securities Market would be seeking to attract more technology and venture capital firms to raise funds in Taiwan, the commission said.