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TWSE chief tapped for minister without portfolio

Taiwan Stock Exchange Corp. (TWSE) Chairman Schive Chi (薛琦) will be appointed as a new minister without portfolio for financial and economic projects, according to the Executive Yuan.

Chi said that he has enjoyed his four years serving TWSE. His team there is capable of doing high-quality work and executing plans with precision, he said.

Regarding the securities transactions tax, Chi commented that it takes time for new policies to be practically applied, adding that public criticism is useful in helping the government adjust its policies. He will be honest in the face of public criticism and will try to find appropriate solutions, Chi said.

Chi said that forming a cross-strait financial center will be the main focus for this year. Due to China's monetary settlement moves and its increasingly close trade partnership with Taiwan, the government expects to develop its financial ties with the mainland even further this year.

Regarding the business cycle, Chi said he remains optimistic about economic growth in 2013. He said that, following on from last year's lackluster economic performance, this year will be better.

Chi added that one of his main focuses while serving as minister without portfolio this year will be to amend finance laws and to improve the policies and economic environment to facilitate work with the Federation of International Trade Associations and on a free trade zone.

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Schive Chi (薛琦) answers media questions about his new position as minister without portfolio for finance and economics projects, yesterday. He said he expects trade negotiations to be a major focus for the government this year. (CNA)

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