RPT-Taiwan sees assets managed by fincl firms doubling
(Repeats Aug 14 story to add codes)
TAIPEI, Aug 14 (Reuters) - Taiwan's government aims to have assets managed by its financial companies nearly double, and total listings on the island to grow by one-third over the next four years, a top financial regular said on Thursday.
The plans are part of Taiwan's efforts to build itself into a regional asset management and fund-raising hub.
Assets managed by Taiwan banks, insurance companies and fund management houses would grow to T$20.6 trillion ($660 billion) in four years, from T$11.6 trillion now, said Gorden Chen, chairman of Taiwan's Financial Supervisory Commission.
"Our goal (of T$20.6 trillion) is to be close to the current sizes of Hong Kong and Singapore, respectively," Chen told reporters.
The number of listed companies in Taiwan would reach 1,711 in the same period, up from the current 1,260, he said.
In July, Taiwan's cabinet announced a plan to raise the amount of assets that Taiwan mutual funds could invest in China stocks, the latest in a series of measures to improve trade ties with the mainland. ($1=T$31.2) (Reporting by Faith Hung; Editing by Ben Tan)
