Taiwan’s executive body Executive Yuan announced the government’s cabinet reshuffle at which Tseng Ming-chung, political deputy minister of Ministry of Finance, has been appointed to replace Yuh Chang Chen as chairman of Taiwan’s Financial Supervisory Commission (FSC).
Chen spared no effort to push ahead with the development of Taiwan’s financial market since he led the commission in 2010 with the launch of many significant initiatives such as the opening up of RMB businesses and developing cross-strait financial platform, reports Asia Asset Management.
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Before joining the Ministry of Finance, Ming-chung held various senior positions in Taiwan Cooperative Bank and FSC.
The cabinet reshuffle involves several new appointments of ministers for Overseas Chinese Affairs Council, Veterans Affair Commission, Council of Indigenous People, Ministry of Defence, the Public Construction Commission and FSC.
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