The purpose of this paper is to explore the opportunities for and challenges of developing a T-Share market in Taiwan.It first examines the general considerations relating to transnational listings and discusses the Cross-Taiwan-Strait relationship,focusing on the legal restrictions on cross-strait capital flows.This paper then considers the special features and concerns of Taiwans securities market,particularly its advantages and disadvantages.Lastly,in light of the opportunities and challenges of developing a T-Share market,this paper offers perspectives and recommendations to further liberalize Taiwans securities market.To this end,this paper argues that cooperation of stock exchanges in China and Taiwan is a first step toward further official collaboration.In addition,it is proposed that the Taiwan government opens an alternative trading market with more flexible rules designed for T-shares.This market-oriented approach has the potential to maintain a proper balance between investor protection and market development.