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New Taiwan Stock Exchange chairman appointed

2016/06/20 18:49:01

Shih Jun-ji CNA file photo

Taipei, June 20 (CNA) Premier Lin Chuan (林全) has appointed Shih Jun-ji (施俊吉) as the new chairman of the Taiwan Stock Exchange (TWSE), Cabinet Spokesman Tung Chen-yuan (童振源) said Monday.

The appointment came after speculation had been circulated in the market for some time that Shih, a veteran of Taiwan's academic circle and of the country's financial regulatory agency, will replace the incumbent Lee Sush-der (李述德), who is scheduled to retire at the end of this month.

Tung said that as Shih, currently a minister without portfolio, has a wealth of experience and has a good reputation in both economic theory development and financial market practices, making him a good choice to head the TWSE, which operates the local main board.

Shih used to serve as chairman of the Financial Supervisory Commission (FSC), the top financial regulator in Taiwan, and worked as a research fellow at Academia Sinica, the country's top research institution.

Shih, who was born in August 1955, has a Ph.D. in economics from National Taiwan University. As a minister without portfolio, he is in charge of policies regarding economics, communication and trade negotiations, including possible talks on entering the U.S.-led Trans-Pacific Partnership.

Citing Lin, Tung said that the TWSE chairman plays a very important role in the equity capital market, as Taiwan is keen to attract funding at home and from overseas to develop its capital market.

Tung said that when Shih served as chairman of the FSC, he worked closely with the domestic financial market. Moreover, as a research fellow at Academia Sinica, Shih has conducted a great deal of research on Taiwan's financial market, Tung said.

The Cabinet spokesman said that Shih has done a good job as a minister without portfolio, but added that his expertise in the financial market makes him ideal for the position of chairman of the TWSE.

After Shih assumes his new post, he will step down from his position as minister without portfolio. Tung said that no decision has been made about who will succeed him.

(By Tai Ya-chen and Frances Huang)
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