Premier Mao Chi-kuo addressed business leaders and discussed economic woes and stock marke…

Premier Mao Chi-kuo addressed business leaders and discussed economic woes and stock marke…, While use of the National Stabilization Fund provided temporary relief to the Taiex today, many legislators believe these actions may not be enough. They expressed little confidence in previous “fixes” put forward by President Ma Ying-jeou and the Cabinet. Despite lots of talk surrounding Cabinet-led initiatives, little has been achieved when it comes to boosting exports or helping industries upgrade. Mao Chi-kuo PremierToday, the Taiwan stock market, judging from share prices and transaction volume, has been quite stable. Relatively speaking fundamentals continue to be quite good. Attending a meeting of business and industry leaders, the very first words out of Premier Mao Chi-kuo’s mouth were the Cabinet’s effort to rescue the local bourse. Aside from authorizing the mobilization of the National Stabilization Fund, he supported KMT presidential candidate Hung Hsiu-chu’s modified version of a capital gains tax.Yeh Yi-jinDPP Legislator If you are talking about troubles with the stock exchange, I don’t think that tackling the capital gains tax will solve the problem. This is something associated with the broader environment which has been left weakened over the past few years by Taiwan’s ruling party. Mao Chi-kuo PremierWe are seeking new areas of development regarding how to help industries upgrade and how to boost exports.Economic data regarding the stock market, GDP and export orders all paint a very negative picture. Mao says industrial transformation is needed, though legislators are getting tired of government slogans and demand real results.,