Taiwanese central bank opposes sovereign wealth fund proposal

The Central Bank of the Republic of China (Taiwan), Taipei
The Central Bank of the Republic of China (Taiwan), Taipei
Kao Kuoen

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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