New chairman of Taiwan's TAIFEX takes office

台灣期交所新董座上任

Taiwan's ex-finance ministerSheu Yu-jertakes the helm at TAIFEX


TAIPEI (Taiwan News) - The Taiwan Futures Exchange (TAIFEX) welcomedformer Minister of FinanceSheu Yu-jer (許虞哲) as incoming chairman on Monday.

Liu Len-yu (劉連煜), the outgoing TAIFEXchairman, welcomedand congratulatedSheuat a handover ceremonyin the presence ofWellingtonKoo (顧立雄), Chairman of theFinancial Supervisory Commission, new finance ministerSu Jain-rong(蘇建榮),Director-General ofSecuritiesand FuturesBureau Rosemary Yung-HsinWang (王詠心) and other executives from the country'sfinancial institutions.

Sheuwas replaced by his deputy Su amid a Cabinet reshuffle in early July after two years in office as a minister. The 66-year-old started his service atthe Ministry of Finance after obtaining his master degrees in finance and law fromNational Chengchi University and Harvard University, respectively.

Sheuhas been lauded for his tax reform accomplishments and his strong communication skills that helped himwin support from lawmakers when pushing reforms.

Sheu thanked the outgoing ChairmanLiuLen-yufor his achievements in connecting to the world markets and adding diversity to futures products portfolio for local investors. Prior to joining the TAIFEX, Liu was a law professor at National Chengchi University and specializes in securities trade, corporate law, fair tradeand financial laws.

Monday's handover ceremony was also attended by the head of national futures industry association Mai I-yung (糜以雍), also the Chairman of KGI Futures. Mai was hoping that the finance regulators can consider slash half oftransaction tax from futures trade toguaranteegreater competitiveness.

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