Taiwanese central bank opposes sovereign wealth fund proposal
Legislators propose using 10% of Taiwan’s $561 billion foreign reserves to set up a SWF
Taiwan’s central bank has voiced opposition to a proposal that central bank laws be amended to create a sovereign wealth fund (SWF), partly funded by the bank’s foreign reserves.
The Central Bank of the Republic of China (Taiwan) stated its position in a statement on May 8, after some legislators tabled a bill to amend the central bank law.
The draft law would require the central bank to set aside 10% of its foreign exchange reserves to set up a fund for investing in “strategic industries” and
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