A study on the nature of Taiwan's opening to the private sector

Abstract

On June 26 last year, the Taiwan authorities officially approved the establishment of 15 private banks (19 at the time of declaration), the first time in nearly 40 years. It ended the history of public banks' monopoly on Taiwan's financial industry, and also showed the authorities' intention to actively promote financial liberalization and internationalization, making Taiwan gradually become an international financial center in the Asia-Pacific region.