Taiwan’s Central Bank confirms that it holds wargames to simulate responses in different military emergencies. On Tuesday, Central Bank Governor Yang Chin-long (楊金龍) told legislators that the bank, the Finance Ministry, and the Financial Supervisory Commission have conducted joint simulations facing potential military conflict. Taiwan’s Central Bank is the monetary institution that manages the currency and monetary policy.
At Tuesday’s legislative hearing, KMT lawmaker Wang Hung-wei (王鴻薇) pointed out the recent record highs in the stock market suggest an overheated market, especially with high foreign investment. Wang asked whether Taiwan’s financial institutions have contingency plans for military emergencies.
In response to Wang’s query, the governor says the Central Bank monitors fund inflows and outflows daily and assured that they have drills and measures in place for various scenarios, including potential missile strikes and military encirclement of the island nation.