DPP legislator Guo Guowen questioned at the Legislative Yuan's Finance Committee in the morning that public-stock banks' exposure to China is currently as high as 331 billion yuan. "Everyone is withdrawing, and public stocks are still holding on."

Finance Minister Su Jianrong responded that public banks' exposure to China has been decreasing and will report within one month.

(Photo by reporter Zheng Qifang)

[Reporter Zheng Qifang/Taipei Report] China's political and economic risks are soaring, and foreign capital has withdrawn one after another.

Guo Guowen, a legislator of the Democratic Progressive Party, questioned at the Finance Committee of the Legislative Yuan in the morning that the current public-stock banks' exposure to China is still as high as 331 billion yuan. "Everyone is withdrawing, and public stocks are still holding on."

Finance Minister Su Jianrong responded, "Remind them to reduce their exposure every time they have a meeting." Public-stock banks are also reducing their exposure to China, and they will report within one month.

Guo Guowen pointed out that China's risks are constantly rising, and public-stock banks are still clinging to their feet. Although their exposure to China has decreased, it is still quite high. Among them, Mega Commercial Bank's exposure to China is 90.1 billion yuan, accounting for 31% of the net value, the highest, close to the average. It is worth 32%, and Changhua Bank, Taiwan SME Bank and Cooperative Treasury account for more than 20% of the net exposure.

He said: "Currently, nine public banks have an exposure of 331 billion yuan to China, are you worried?"

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Su Jianrong responded, "Of course I'm worried and remind them every time we have a meeting." Public banks' exposure to China has been declining, but China's situation is not easy to withdraw funds.

Guo Guowen said that at present, banks' exposure to China accounts for an average of 32% of their net worth, which should be lower for public-equity banks. The Ministry of Finance is required to report and set targets.

Su Jianrong promised to submit a report within one month, and the public-stock bank would set its own goals.

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