Taiwan Wealth Management Hub Plans Advance Ahead of Schedule, FSC Says

Taiwan wealth management hub ambitions are advancing faster than planned, with assets under management rising by more than TWD4tr (USD127bn) to meet a two-year target ahead of schedule, Financial Supervisory Commission chairman Peng Jin-lung said.

Speaking at a forum in Taipei, Peng said Taiwan now has the capital base, industrial depth and talent pool to support a six-year roadmap aimed at building a regional wealth and asset-management centre that complements, rather than competes with, Singapore and Hong Kong.

Key initiatives include an asset-management zone launched in July in Kaohsiung, where banks have already attracted over TWD2tr of assets, and the rollout of the Taiwan Individual Savings Account scheme, which has drawn more than 60,000 accounts in three months. The progress underscores Taiwan wealth management hub momentum within Asia.