Gold Holdings Westward Ranking

In the first three quarters, Fubon, Cathay Pacific and Development all had zero remittances

Only CITIC 849 million capital increase Zhongxin International

[Reporter Gao Jiahe/Report from Taipei] Affected by the intensified confrontation between the United States and China, the spillover of unfinished buildings in China, and the continued chaos of the epidemic, among the 13 Taiwan-listed financial holdings in the first three quarters of last year, only CITIC Financial remitted eight from Taiwan.

4.9 billion capital increase in Zhongxin International Financial Leasing. Fubon Financial, Cathay Financial, and Development Capital, which were active in the past, have zero remittances. This is the coldest situation in 13 years since Taiwan opened up its financial industry to invest in China in 2010. .

According to the latest quarterly report of Taiwan stocks, by the end of the third quarter of last year, thirteen financial holdings had remitted more than 200 billion yuan from Taiwan to China, of which Fubon Gold was the most courageous, with more than 53.8 billion yuan, followed by Cathay Pacific Gold 34.8 billion, Development Fund 23.2 billion and CITIC Financial 21.9 billion; public equity financial holdings are the most active in the first gold, accumulating more than 17.4 billion, followed by South China Gold 10.6 billion .

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In addition, according to the latest statistics from the Investment Commission, after the Malaysian government opened up the westward expansion of the financial and insurance industry, the accumulated westward investment in just six years exceeded 1.12 billion.

More than 200 million U.S. dollars, accounting for 141.1% of the accumulated amount at the end of November last year.

Nearly 80% of the US$600 million; however, as the US-China confrontation intensified and China’s political and economic control tightened and other risks increased, the amount of westward expansion in the first November of last year was less than US$200 million, which will be the lowest since the opening up for the whole year.

Fubon Gold's largest investment is Huayi Bank, which holds 100% of the shares, and Xiamen Bank, which holds 17% of the shares. Insurance and Founder Fubon Fund Management, which holds 33% of the shares, had their book value burnt down to only 20% to 30% of the paid-in capital at the end of the period.

Fubon Life invested 8.7 billion yuan in Harbin Bank in 2014, holding more than 5% of the shares. Due to losses, the Chinese government requested capital increase. However, according to the regulations of my country's Financial Supervisory Commission, Fushou is a "financial investment" and is not suitable It has the obligation to increase capital; Fushou has decided to reduce its shareholding in Harbin Bank to below 5% first, and then continue to dispose of it later.

Cathay Gold mainly invests in Lujiazui Cathay Life Insurance, which holds 50% of the shares, Cathay Property Insurance (Mainland) with 49% and Cathay United Bank (China) with 100%.

Lujiazui China Life, which opened in 2005, was the first cross-Strait joint venture life insurance company. However, it suffered losses for a long time. After changing shareholders and increasing capital, it was not until 2018 that it turned losses into profits.

Shin Kong Gold is the first to see the westward and naked retreat

Shin Kong Gold’s Xinshou also established a joint venture with China’s HNA Group in 2009, Shin Kong HNA Life Insurance, each holding 50% of the shares. Due to long-term losses and HNA Group’s reluctance to increase capital, Xinshou had to sell its shares to Chinese capital one after another. This is the first time Taiwan's life insurance industry has seen "going west and retreating naked".

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