Cabinet plan targets 85 new listed firms in '13
The China Post news staffTAIPEI, Taiwan -- The Cabinet has announced a plan to boost the stock market, with measures to expand investments and transactions in the local bourse, plus to add another 85 listed companies in 2013.
March 3, 2013, 12:03 am TWN
The plan, drawn up by the Financial Supervisory Commission (FSC), relies on multiple offerings of quality products to boost transactions, expand the capital market, raise the local bourse's visibility in the international community, and strengthen the management of listed companies.
According to the plan, local players from various sectors, from high-tech firms to cultural creative businesses, will be encouraged to list on the main board and over-the-counter markets.
There are also measures to attract foreign companies with key technologies to make Taiwan their destination for primary listing. Foreign companies who are more than 30 percent owned by China-based investors may also be allowed to list in Taiwan.
Taiwanese investors whose companies are registered in China will also be encouraged to list in Taiwan.
The Cabinet is looking to have 85 more companies listed in Taiwan in 2013, with 50 of them coming from the local high-tech and cultural creative sectors and 30 foreign firms.
The government will seek to lower the futures transaction tax, expand credit trading and adopt other measures to stimulate transactions.