Former Taiwan Premier Urges GFCI Listing for Kaohsiung to Advance Asian Asset Management Hub

Taiwan's Financial Supervisory Commission is seeking to turn the country into an Asian asset management hub and strengthen its competitiveness in cross-border capital flows and wealth management. Former Premier Chen Chong said the Global Financial Centres Index, or GFCI, is an important international benchmark for the business environment, financial system and talent. Without Kaohsiung in the index, he said, the policy's results would be difficult to compare objectively with financial centers such as Singapore and Hong Kong.

Chen recently recommended that the government first seek Kaohsiung's inclusion in the GFCI and determine why Taipei ranks lower, then adjust its Asian asset management hub policy accordingly. He also cautioned that tax incentives involve regulatory design and distributive fairness. Policymakers must account for public concerns about wealth inequality and avoid creating the impression that certain businesses enjoy privileges or opportunities for rent-seeking. Reports did not specify the date of his recommendations or any monetary amounts.