The Taiwan Monthly

Aug. 2021

Global Connection

The Taiwan market maintains momentum

With international travel restricted and all large-scale events cancelled because of the COVID-19 pandemic, the holding of physical investment events has been curbed. To serve overseas investors, the TWSE held six online investment events in the first-half of 2021 with more than 600 foreign investors attending and more than 2,000 one-on-one/group meetings. During these events, foreign investors are particularly interested in the new trading board, the new trading mechanism, and the enhancement of CG/ESG. Although the worldwide post-pandemic outlook remains unclear, the TWSE’s services to international investors are uninterrupted.


A new trading board, the Taiwan Innovation Board (“TIB”) was launched on July 20, 2021. The TIB not only offers a new platform for innovative businesses in raising funds from the capital market, but also gives a new option for qualified investors. The TWSE also targets foreign investors and continues introducing TIB in the investment events to highlight the newest member in the Taiwan multi-level capital market.


To enhance the trading volume of quality stocks with low liquidity, the TWSE introduced the new market making mechanism, which was launched on June 30, 2021. During the investment events, questions were raised by investors as to how to be a market maker. However, under current regulations, only securities firms with a dealer’s license in Taiwan can serve as market makers or liquidity providers.


Foreign institutional investors closely observe Taiwan’s CG/ESG performance. Transparency is one of the most significant topics, and investors focus on the directors, supervisors, and general managers’ remuneration disclosure. To drive companies to disclose, the TWSE had added the disclosure of the individual remuneration details of each top executive in its annual report, as one of the Corporate Governance Evaluation Indicators. Beyond the the remuneration disclosure, the TWSE also requires nearly all the listed companies to expand English disclosure in the future.


Outside the investment events, the TWSE also cooperated with a custodian bank and international financial media to hold online forums, to access a broader investor base.Even as pandemic variants emerge, the TWSE remains ever more committed to the safety of all stakeholders, plus maintaining global connectivity to enhance foreign investment and further internationalization Taiwan ‘s positioning.


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