KMT's Taipei mayoral candidate proposes holding company for the city
Central News Agency
2014-07-30 11:43 PM
Taipei, July 30 (CNA) Kuomintang (KMT) candidate for Taipei mayor Sean Lien suggested Wednesday that the municipal government set up a holding company to increase its revenue. Lien presented the idea at a press conference, in which he publicized his finance platform. At the event, Shih Hsin University Professor Hsu Jen-hui, who teaches public policy and management, said although Taipei, the capital city of Taiwan, enjoys a better financial condition than other municipal cities around the country, it still in debts of over NT$160 billion (US$5.33 billion). That means the city government needs to manage its finance more cautiously, Hsu said. Lien said there are several ways to help increase revenues for the city, including establishing a holding company, securitizing liquid assets and issuing public bonds. Addressing the idea of establishing a holding company, Lien said such a facility will be a convenient way to "centralize administrative powers." He also hopes that the company will eventually make profits, which will help fund all sorts of programs in Taipei. (By Huang Li-yun and Elizabeth Hsu)
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