Today, the headline of one of Taiwan's daily newspapers reads,"Limitations on repatriation of foreign capital invested in Taiwan stock market remain, improvement of efficiency needed."This report runs
Press Release
Release Date: September 15, 2005
Today, the headline of one of Taiwan's daily newspapers reads,
"Limitations on repatriation of foreign capital invested in Taiwan stock market remain, improvement of efficiency needed."
This report runs contrary to the reality of the situation. The CBC has issued this press statement to set the record right.
The Central Bank of China, Taipei does not require foreign investors to have funds in their accounts before trading. Inward and outward remittances made by foreign investors investing in Taiwan’s equity markets are completely free. Once registered with the Taiwan Stock Exchange Company, foreign investors may remit investment principal and proceeds through any foreign exchange bank at any time.
The Bank has taken every opportunity to explain that the foreign exchange market in Taiwan has been deregulated and well developed during previous meetings with FTSE representatives. We regret to hear that Taiwan stock market was not classified as one of the developed markets in its World Index.