Taiwan says idle foreign funds declined, more inflows

Deputy Governor George Chou said there's some NT$250 billion of cash that's been brought in and has still to be used for its stated purpose, down from NT$290 billion at the beginning of the year. He spoke to Bloomberg News yesterday outside the island's parliament in Taipei.

Central Bank of the Republic of China (Taiwan) Governor Perng Fai-nan in October expressed concern that foreigners had about NT$500 billion in Taiwan dollar accounts, five times more than policy makers considered acceptable. Policy makers in November banned overseas investors from placing funds in time deposits and in January set a one-week deadline for money brought in to be invested or repatriated, measures aimed at limiting currency appreciation that may hurt exports.

Overseas investors cut their holdings of Taiwan shares by US$1.26 billion since the end of 2009, after last year making net purchases of US$15.6 billion, according to the Taiwan Stock Exchange data.

Subscribe to The China Post and save 25%. Click here

SharePrintEmail

Write a Comment

Terms

Enter your comments - 3000 characters max

Type in image code

Submit

 Receive China Post promos
 Respond to this email