Global Banks Look to Taiwan Expansion in Shift Away From Hong Kong
- Taiwan’s Huang plans rule changes to improve competitiveness
- Hong Kong turmoil raises concerns about talent, capital exodus
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Taiwan’s top financial regulator said global banks are looking to expand on the island after China’s passage of a controversial security law in Hong Kong prompted some firms to rethink their Asian strategies.
Some U.S. securities firms are considering an expansion in Taiwan while other international banks plan to start new operations, said Huang Tien-mu, chairperson of Taiwan’s Financial Supervisory Commission. He didn’t name any of the companies that have expressed interest in Taiwan.