Taiwan has asked state-owned banks to “properly manage” their exposure to China, Finance Minister Su Jain-rong said on Monday, amid ongoing trade and political tensions between Taipei and Beijing.
Taiwan’s financial regulator said last month that Taiwanese banks’ exposure to China had reached its lowest level in its history, at a time when China has been putting military and diplomatic pressure on the island to accept Beijing’s sovereignty.
Asked by a lawmaker in a parliamentary session whether state-owned banks should re-examine their investment risks in China, Su replied: “State-owned banks have already been required to actively and properly manage their exposure to China.”
Large state-owned banks in Taiwan include Bank of Taiwan, Taiwan Cooperative Bank Ltd and Land Bank of Taiwan Co Ltd.
(1 US dollar = 30.7050 Taiwan dollars)