On 2015 Taiwan-Sichuan Financial Cooperation Forum held in Chengdu recently, Mr. Lee Sush-der, director general of Taiwan Financial Services Roundtable, led Taiwan influential financial enterprises and small and medium-sized enterprises to Sichuan to discuss with financial experts and representatives from Sichuan companies about how to deepen financial cooperation methods between Sichuan and Taiwan. 
    

     Mr. Lee Sush-der compared the deepening financial cooperation between Sichuan and Taiwan to a pair of brothers assisting each other to climb a mountain with the final goal to benefit the people. After the forum, reporters interviewed Mr. Lee Sush-der exclusively.

     The standards of consumers’ choice depend on service quality. 
  
     Reporter: What is your opinion about Taiwan financial institutes to enter into the market of western China? What cooperation forms are available and effective for both sides?
Mr. Lee Sush-der: As the economic development of Sichuan, there are increasing needs for finance. Who would these people turn to if they have such financial needs, local banks or Taiwan banks? Honestly, the standards influencing consumer's choice are the service quality and the price. After Taiwan entrepreneurs come to Sichuan, they could compete with Sichuan enterprises fairly and are chosen by consumers. Taiwan businessmen can bring about some concepts and service methods. In this way, Taiwan people are able to have business to do and drive the growth of Sichuan’s financial industry, which is beneficial to both sides.
  Local enterprises are equipped with marketing networks and extensive social connections. We Taiwan businessmen could bring about some experience of financial service. Our cooperation is just like offering a tiger with wings.

      “Quality control” should be highlighted in developing capital market.
  
     Reporter: Currently Sichuan is developing a capital market of multiple levels and promoting enterprises especially small and medium-sized enterprises to seek financing by listing on the stock market in order to reduce the reliance on bank financing. What mechanisms does Taiwan have in this aspect?
  
     Mr. Lee Sush-der: There are two financing modes available for enterprise, direct financing and indirect financing. Generally, an enterprise would start with indirect financing, such as borrowing money from banks, and then resort to direct financing when capital market is relatively mature to some extend. Taiwan has experienced the same journey. Taiwan’s capital market has developed for over half a century. Our related authorities and market operators should help companies to develop their own brands. Companies should never forge unreal account, or produce poor quality products. With all these available, related authorities should assist companies again to make it easier for them to enter into capital market.
   
     Taiwan’s capital market is also developing step by step. At least now quality is under control. The so-called quality control is to check whether there are insider dealings or false accounts of the enlisted companies. The number should be under control. We should also check whether there are defaults of investors, whose number is declining. Besides, we should invest whether there are cheats from securities brokers. If the phenomena above are decreasing, the quality is indeed under control.

     The key to quantitative change to qualitative change is brain innovation. 
  
     Reporter: Now private banks are encouraged to establish. Are there excellent experiences of Taiwan financial institutes to share with Sichuan? What should Sichuan focus on to achieve the quantitative change to qualitative change of financial service?
 
     Mr. Lee Sush-der: What really matters is not public or private but good operation. The core of capital market is excellent operation, transparent financing report, real account, and high quality of a company. The most important factor is the down-to-earth settlement of management, product development and research, finance, and social responsibilities of operation team.
   The key to quantitative change to qualitative change is brain innovation. Innovation means providing more excellent service. For instance, customers had to withdraw or deposit money in banks. But now people could just do it online with the virtual process. Qualitative change indicates innovation and reform in these aspects. Without innovation, companies would be left behind. Talent training is of vital importance.