The head of Taiwan’s Financial Supervisory Commission, Huang Tien-mu, says that he wants to attract investment, talent, and capital from Hong Kong. Hong Kong’s economy has taken a hit since Beijing implemented a harsh national security law in the territory.
Huang says that he does not want to “replace” Hong Kong, but rather use the opportunity the law presents to give Taiwan a competitive edge.
Huang says that the Financial Supervisory Commission has already implemented two major policies to achieve this goal.
First, any person investing over NT$100 million in Taiwan will have access to a wider selection of investment products. Huang says that this policy has proven popular with both domestic and foreign financial institutions, in turn increasing Taiwan’s influence in the region.
The second policy gives Taiwanese companies incentives to move their money back to Taiwan from overseas tax havens.