Financial Supervisory Commission (FSC) Chairman Thomas Huang (黃天牧) yesterday said that after taking office, he would concentrate on monitoring financial companies’ capital adequacy and promoting financial technology, sustainable finance and inclusive financing.
Huang told a handover ceremony in New Taipei City that he would make sure that companies have a sufficient capital adequacy ratio and exercise comprehensive risk management, as he expects financial conglomerates to be resilient enough to weather market volatility.
As the global economy undergoes digital transformation, the commission would continue encouraging firms to develop financial technology to boost their competitiveness, he said.
Photo: CNA
The agency would also monitor possible risks related to innovative businesses, he added.
The commission would promote green finance — providing funds or financial tools such as bonds to borrowers for sustainable or green investments — as financial companies should fulfill their social responsibility and create “win-win” situations for the economy and the environment, Huang said.
It would also focus on inclusive finance, asking companies to provide diverse products and services to meet the needs of various enterprises and individuals, he said.
The commission would keep its regulations in line with international rules, Huang said, adding that if it introduces new international standards in the nation, it would adopt a phased approach and impose fines conforming to the principle of proportionality.
“Financial supervision and regulation is my life’s work and vocation,” the 61-year-old said. “Supervision should be independent, fair and just.”
Huang said that he has adopted the motto of Chang Chi-luan (張季鸞) — former chief executive editor of the Chinese-language Ta Kung Pao (大公報) — “no party affiliation, no political endorsement, no self-promotion, no ignorance,” (不黨,不賣,不私,不盲) as his own.
All regulations and policies should prioritize the nation’s interests, he said.
Huang also urged banks to be more proactive about approving loans to businesses affected by the COVID-19 pandemic to help the nation’s economy recover.
Former FSC chairman Wellington Koo (顧立雄), who recommended Huang to Premier Su Tseng-chang (蘇貞昌) as his successor, said that Huang would be a professional supervisor, as he has experience and integrity.
Huang, who was the commission’s vice chairman since 2013, served as the head of the agency’s Insurance Bureau; the Securities and Futures Bureau; and the Examination Bureau.
The Eurovision Song Contest has seen a surge in punter interest at the bookmakers, becoming a major betting event, experts said ahead of last night’s giant glamfest in Basel. “Eurovision has quietly become one of the biggest betting events of the year,” said Tomi Huttunen, senior manager of the Online Computer Finland (OCS) betting and casino platform. Betting sites have long been used to gauge which way voters might be leaning ahead of the world’s biggest televised live music event. However, bookmakers highlight a huge increase in engagement in recent years — and this year in particular. “We’ve already passed 2023’s total activity and
Nvidia Corp CEO Jensen Huang (黃仁勳) today announced that his company has selected "Beitou Shilin" in Taipei for its new Taiwan office, called Nvidia Constellation, putting an end to months of speculation. Industry sources have said that the tech giant has been eyeing the Beitou Shilin Science Park as the site of its new overseas headquarters, and speculated that the new headquarters would be built on two plots of land designated as "T17" and "T18," which span 3.89 hectares in the park. "I think it's time for us to reveal one of the largest products we've ever built," Huang said near the
China yesterday announced anti-dumping duties as high as 74.9 percent on imports of polyoxymethylene (POM) copolymers, a type of engineering plastic, from Taiwan, the US, the EU and Japan. The Chinese Ministry of Commerce’s findings conclude a probe launched in May last year, shortly after the US sharply increased tariffs on Chinese electric vehicles, computer chips and other imports. POM copolymers can partially replace metals such as copper and zinc, and have various applications, including in auto parts, electronics and medical equipment, the Chinese ministry has said. In January, it said initial investigations had determined that dumping was taking place, and implemented preliminary
Intel Corp yesterday reinforced its determination to strengthen its partnerships with Taiwan’s ecosystem partners including original-electronic-manufacturing (OEM) companies such as Hon Hai Precision Industry Co (鴻海精密) and chipmaker United Microelectronics Corp (UMC, 聯電). “Tonight marks a new beginning. We renew our new partnership with Taiwan ecosystem,” Intel new chief executive officer Tan Lip-bu (陳立武) said at a dinner with representatives from the company’s local partners, celebrating the 40th anniversary of the US chip giant’s presence in Taiwan. Tan took the reins at Intel six weeks ago aiming to reform the chipmaker and revive its past glory. This is the first time Tan
RSS