The Finance Ministry is monitoring changes in global financial markets closely, as Taiwan's own stock and foreign exchange markets both continue to fall. Cabinet spokesperson Lo Ping-cheng (羅秉成) said on Thursday that authorities have already taken steps to soften the financial impact.
Lo says Taiwan's economy is experiencing a short-term blow, and the National Financial Stabilization Fund has already intervened in the market and implemented measures to stabilize the situation. The Fund will adjust these measures based on changes in international markets.
Lo says the government is using four methods to stabilize the stock market. These include sending industry experts to advise companies about the economic situation and encouraging firms to buy back their own stocks. Authorities are also holding meetings to discuss investment strategies, and urging companies to be transparent about major business changes.
Lo says it's hard for Taiwan to avoid the influence of international financial markets. But he reiterates that this is a short-term setback and people should have faith in the Taiwanese economy's sturdy foundation and development.