At the Cabinet's weekly meeting Thursday, Premier Su Tseng-chang said the Financial Supervisory Commission's (FSC) Corporate Governance Roadmap (2018-2020) will create forward-thinking, globally competitive capital markets for Taiwan and help align Taiwan's listed companies with international standards.
Following the FSC's briefing on the roadmap's implementation status, the premier said the plan aims to deepen the culture of corporate governance, enhance board functions, strengthen information disclosure, augment regulatory enforcement, and encourage participation by companies and investors in corporate governance.
Since the corporate governance evaluation system was implemented at listed companies across Taiwan, evaluation indicators have shown vast improvements all around, the premier pointed out. For instance, candidate nomination systems for the election of directors and supervisors have been adopted at nearly 80 percent of all listed companies. Electronic voting for shareholder meetings has also been adopted by all listed companies. Independent directors were appointed at all listed companies by 2017, and audit committees have currently been established at 60 percent of all listed companies.
Last year, Taiwan took fifth place in the CG Watch 2018 report published by the Asian Corporate Governance Association, the premier continued. This achievement shows that Taiwan is making strides in corporate governance and producing measurable results.