Taiwan frees up financial links with mainland

Taiwan’s government announced a raft of financial reforms Thursday that aim to open up financial ties with the mainland and boost the island’s flagging economy, the Financial Times reported. The reforms include allowing Taiwan brokerages to invest in their mainland counterparts; relaxing restrictions on mutual funds buying Hong Kong- and mainland-listed stocks; opening mutual listings of exchange-traded funds between Taiwan and Hong Kong; allowing Hong Kong-listed companies to hold secondary listings in Taipei; and allowing the renminbi to be converted in Taiwan. The reforms had been promised by Taiwan’s new president, Ma Ying-jeou, during his campaign.