Minister of Finance Yen Ching-chang (
Speaking on the 40th anniversary of the exchange's founding, Yen said that the stock market has effectively channeled savings into investment. Since its inception in 1961, he said, the TSE has served as a window on Taiwan's economic development and has been the nucleus of the direct financing system.
The minister said that the TSE, which started with only NT$10 million in capital investment and less than 100 staff, has developed into an efficient operation.
As of the end of November, the number of listed companies totaled 585 and the market value of listed shares amounted to NT$8.1 trillion, accounting for 80 percent of GDP, Yen noted.
There are around 1,000 brokers and their branches around the nation and the number of investors is nearing 7 million, representing one-third of Taiwan's population. The daily average turnover value in the past 11 months was NT$68.8 billion, according to the minister.
Yen noted that the financial authorities are constantly reviewing the operations of the stock market. He said that stock markets all over the world are using new technologies while also seeking international alliances.
Taiwan's stock market should also reinforce its structure and improve its services to meet the challenges ahead, he added.
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