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May 24, 2017

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UK gov't wants financial talks with Taiwan: NDC

TAIPEI -- The United Kingdom is hoping for a roundtable conference with Taiwan that would lead to closer bilateral financial cooperation, according to the head of Taiwan's National Development Council (NDC 國發會), who recently returned from a visit to the UK.

One of Taiwan's advantages is the almost 300 billion yuan (US$48.38 billion) in deposits in its banking system, Kuan Chung-ming said Tuesday, adding that this is of interest to the UK in its quest for further cooperation with Taiwan in the banking sector.

Speaking to the media, he said he hopes the proposed conference will be organized "as soon as possible" and he has already put forward the suggestion to Premier Jiang Yi-huah.

Kuan said that on his recent visit to the UK, he and his delegation met with British officials and scholars at think tanks.

Taiwan's huge Chinese-yuan deposits were a point of interest to Economic Secretary to the Treasury of the UK Andrea Leadsom, and the Lord Mayor of London Fiona Woolf, according to Kuan.

He said the two British officials expressed hopes for greater cooperation between Taiwan and the UK in the areas of Chinese yuan transactions and retirement pension systems.

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