Global banks look to Taiwan expansion

Bloomberg

Taiwan’s top financial regulator said global banks are looking to expand on the island after China’s passage of a controversial security law in Hong Kong prompted some firms to rethink their Asian strategies.
Some US securities firms are considering an expansion in Taiwan while other international banks plan to start
new operations, said Huang Tien-mu, chairperson of Taiwan’s Financial Supervisory Commission. He didn’t name any of the companies that have expressed interest in Taiwan.
“We aren’t trying to replace anyone, but that doesn’t mean we have no ambition,” Huang said in an interview.