Premier Jiang Yi-huah encouraged Taiwanese bankers to jointly set up a well-known Asian regional bank to grow the island's financial industry during a February 27 Lunar New Year party hosted by the Bankers Association of the Republic of China in Taipei.
"As the bridge between the government and relevant industries, the association and all its members have assisted numerous enterprises and helped create Taiwan's economic miracle," said the premier. "The establishment of a famous Asian regional bank would strengthen Taiwan's financial industry and bring the country's economy to a higher level in a free competitive environment."
Local bankers have helped many enterprises through innovative measures such as the Financial Supervisory Commission's program encouraging financial institutions to support creative companies, indicated Premier Jiang. Citing the success of a well-known bed and breakfast, he said bank loans have helped contribute to the success of many business startups, which in turn brought about Taiwan's economic miracle. "This is why the government has been giving banks its full support," he remarked.
When financial institutions were seriously threatened during the 2008-2009 financial crisis, the government launched a "three supports policy"—the government supporting banks, banks supporting enterprises, and enterprises supporting workers—successfully preventing the outbreak of bank failures. Since then, Taiwan's financial industry has flourished and produced several outstanding achievements, proving the importance and assiduousness the government has given to financial institutions, Jiang remarked.
Taiwan ranks first or second in Asia in many activities and industries; for instance, its Little League baseball team is the strongest in the Far East, noted the premier. He thus encouraged domestic banks to ambitiously advance into the Asian market and jointly create a famous regional bank over the coming years to bolster Taiwan's economy.