Shanghai and Taiwan stock market cooperation space is very big--visit Taiwan Stock Exchange Chairman Schive

In the gap between the 2009 Lujiazui Forum, Taiwan Stock Exchange Chairman Schive received an exclusive interview with the Shanghai Securities Daily. He believes that there is a strong complementarity between the Shanghai and Taiwan securities markets and that there is a great deal of cooperation between the two places.　　He expects the two markets ' ETFs to be mutually indirect, which is expected to be realized within the year. ETFs are listed with each other only "Dongfeng" Schive revealed that last November, the Taiwan Stock Exchange and the Shanghai Stock Exchange had signed, and authorized the China Securities Index companies to use the Taiwan exchange market to make ETFs, now has compiled three ETFs. As the mainland and Taiwan have recently signed a memorandum of financial supervision, he expects the relevant securities memoranda to be signed within two or three months. By then, the EFT of the cities will be put on the agenda as soon as possible according to the agreements between Taiwan and the mainland.　　He said that in terms of concrete implementation, two exchanges are ready to wait for the "Dongfeng" of the Cross-strait securities cooperation. He said that the Taiwan exchange and the Hong Kong stock exchange on the two Cities EFT Mutual Listing Agreement has been basically set, only a ceremonial point of official start.　　If there are any ETFs in Hong Kong that track the Shanghai and Shenzhen markets, such as the Shanghai and Shenzhen 300 ETFs, they can also enter the Taiwan market through the Hong Kong platform, "This is like a transit through Hong Kong before the cross-strait direct flights," he said.　　The complementarity between the two cities is obvious schive that both the Taiwan market and the Shanghai market have great cooperation between the buyer and the seller. First, two stock markets are listed in different industrial portfolios. A lot of the people in Taiwan want to invest, but they can't buy, and some of the industries that mainland investors want to invest in are not going to find a channel. The most obvious is that the information industry in Taiwan accounts for 51%, while the information industry in Shanghai is about 2.5%.　　One of the biggest industries in the SSE is finance, more than 29%, while Taiwan is only 15%, and now the world's big banks are all listed on the Shanghai Stock Exchange. Secondly, from the buyer's point of view there is a lot of money, saving rate is very high, investment will also strong.　　From 2000 to 2007, Taiwan's private outflow of more than 220 billion dollars, he said that many of them are in Hong Kong or mainland China stock market.　　He believes that by trading in Hong Kong stocks ETFs or Shanghai and Shenzhen ETF products, to some extent, to meet the investment needs of Taiwanese investors.　　Welcome Mainland Enterprises to Taiwan listed he believes that with the strengthening of cross-strait economic and trade cultural exchanges, Taiwan enterprises will also be seen listed in Shanghai in the future, mainland companies listed in Taiwan. He said that many Taiwanese companies that had invested more in the mainland had to go to the Hong Kong Stock exchange for listing, with more than 60 Taiwan enterprises listed in Hong Kong, of which more than 40 were listed after 2002. "I think they will be able to go back to Taiwan in the future and even mainland companies can go to Taiwan," he said.　　According to the briefing, Taiwan exchanges have received a total of 15 foreign companies to apply for listing since last year, of which 13 are Taiwanese and two are authentic American businesses. He said that on the one hand, Taiwan authoritiesThe restrictions on investing in mainland and mainland Chinese companies to invest in Taiwan have eased; On the other hand, with the approval of the "Hercynian Economic zone", he hopes that some of the cross-strait financial exchanges will be piloted here. Referring to the long-term cooperation between several exchanges, he hoped that Taiwan, Hong Kong and the Shanghai and Shenzhen exchanges would set up a common trading platform, choosing some local stocks on a common trading platform based on certain criteria, so that Chinese investors could invest in the shares. He said that the realization of the "Taiwan stock, Shanghai stock through train" is bound to be the general trend.