Taipei, July 25, 2008 (CENS)--In order to develop Taiwan into a regional funding-raising center, the Taiwan Stock Exchange (TSE) will endeavor to expand the scale of the domestic stock market, mainly by encouraging overseas Taiwanese-invested enterprises to list their shares on the market, said Hsieh Chi, newly appointed TSE chairman yesterday (July 24).

Hsieh made the remarks shortly after the approval of his appointment by Premier Liu Chao-shiuan, yesterday, along with the appointments of some other finance-related positions, including Hsu Jen-shou as president of TSE, Wu Tang-chieh as vice chairman of the Financial Supervisory Commission (FSC), promoted from his original position as director general of the Securities & Futures Bureau, FSC.

Hsieh Chi was selected to head the TSE with the mission of executing the plan of the Executive Yuan (the Cabinet) developing Taiwan into an Asia-Pacific financial center, fund-raising center, and assets management center.

Hsieh noted that the most effective way to expand the domestic stock market`s scale now is encouraging listings by overseas Taiwanese-invested enterprises on the market, expressing his confidence in achieving the goal, due to the recent relaxation by the government of investments by listed enterprises in China.

Hsieh, 61, has a doctorate degree from Case Western Reserve University of the U.S. and abundant financial experience, both in practical and academic aspects, having served such posts as vice chairman of the Cabinet-level Council for Economic Planning and Development (CEPD), president of Taiwan Academy of Banking and Finance, and chairman of the department of economics, National Taiwan University.

During his stint as vice CEPD chairman, Hsieh took part in the planning of developing Taiwan into a regional operations center under Vice President Vincent Siew, who served as CEPD chairman then.
(by Philip Liu)