Minister of Finance Lin Chuan (
Speaking to nearly 200 executives of British investment and financial agencies at the seminar, Lin urged them to seize the business and cooperation opportunities between the two countries.
Lin said that the Ministry of Finance is slated to release late next year its holdings of government shares of all Taiwan's public banks, except for the Bank of Taiwan (台灣銀行), to allow for a greater degree of foreign ownership in domestic banks in line with a government privatization project.
Stressing that Taiwan is poised to extend foreign ownership in its banking sector to sharpen the domestic industry's competitive edge as part of its bid to build the nation into a regional financial hub, Lin said that relevant legislation has been underway to encourage mergers and consolidation among banks.
According to the finance minister, there are currently more than 50 banks in Taiwan, including 12 government-controlled ones that account for more than 60 percent of the domestic banking industry's assets.
However, he pointed out that profits posted by the public banks lag far behind those of private banks and that this is the reason behind the government's decision to launch the privatization plan to increase their profitability.
Council for Economic Planning and Development Vice Chairman Hsieh Fa-ta (
Elon Musk’s lieutenants have reached out to chip industry suppliers, including Applied Materials Inc, Tokyo Electron Ltd and Lam Research Corp, for his envisioned Terafab, early steps in an audacious and likely arduous attempt to break into the production of cutting-edge chips. Staff working for the joint venture between Tesla Inc and Space Exploration Technologies Corp (SpaceX) have sought price quotes and delivery times for an array of chipmaking gear, people familiar with the matter said. In past weeks, they’ve contacted makers of photomasks, substrates, etchers, depositors, cleaning devices, testers and other tools, according to the people, who asked not to
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