Taipei, Dec. 21, 2012 (CENS)--The Financial Supervisory Commission (FSC) has decided to push share listing by mainland Chinese enterprises on Taiwan’s stock market, said Chen Yuh-chang, chairperson of the FSC, yesterday (Dec. 20).
The FSC will present the proposal to China Securities Regulatory Commission during the first cross-Taiwan Strait securities regulatory platform meeting, to be convened in the first quarter next year.
The policy is included in the “program for vitalizing the stock market,” which was approved by a meeting of the Executive Yuan (the Cabinet) yesterday.
The policy will cover 100% mainland Chinese enterprises or mainland Chinese enterprises with Taiwanese capital; in the future, such stocks listed on the Taiwanese stock market will be dubbed as “T shares,” similar to “H shares” which refer to shares of mainland Chinese enterprises listed on the Hong Kong market.
Lee Jih-chu, vice chairperson of the FSC, pointed out that in addition to the “H share” policy, the “program for vitalizing the stock market” also includes the following measures:
First is the establishment of offshore securities market, enabling securities firms to undertake offshore securities-underwriting business. Second is cut on stock transaction costs, including market making for warrants and cut on securities transaction tax for risk-hedging warrant transactions.
