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Taiwan announces budget surplus for 7th straight year
Taipei’s Executive Yuan Spokesperson, Lin Tze-luen, announced a budget surplus for the 2023 fiscal year, attributing the achievement to the combined efforts of civil society and the government. The surplus will be allocated responsibly to maintain fiscal discipline, primarily focusing on debt reduction and infrastructure investment. Taiwan’s economy has experienced consistent growth, resulting in a budget surplus for seven consecutive years. In 2022, the surplus reached an impressive NT$500 billion, leading to a proposed special budget of NT$380 billion. This special budget aims to enhance economic and social resilience, with provisions such as a cash payment of NT$6,000 per citizen, support for labor and health insurance programs, and assistance for Taiwan Power Company. Additionally, the special budget includes programs to aid residential loan holders from the middle class and below. Lin emphasized the government’s commitment to considering public opinion and promoting national affairs to facilitate Taiwan’s sustainable development.
2024/01/25 16:34
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Lai Ching-te defends ’2025 Non-Nuclear Homeland’
Democratic Progressive Party (DPP) presidential candidate Lai Ching-te defended his party’s energy policy against criticisms from the Kuomintang (KMT) and Taiwan People’s Party (TPP) on Tuesday (Dec. 26), reiterating that the ’2025 Non-Nuclear Homeland’ is not forcible termination. The plan, launched by President Tsai Ing-wen, is not meant to abruptly end the operation of existing nuclear power plants. The Maanshan Nuclear Power Plant’s No. 2 Reactor will cease operations by 2025 in accordance with the law. Lai praised Tsai’s initiative in developing the renewable energy industry and questioned the stance of KMT’s presidential candidate Hou Yu-ih and TPP’s presidential candidate Ko Wen-je on nuclear power. Lai also cast doubts on the candidates’ proposals to resurrect the Fourth Nuclear Power Plant, questioning the disregard of the referendum’s legal effects. He announced plans to invest NT$900 billion by 2030 in motivating corporate investment for the goal of ’carbon neutrality by 2050.’ Lai emphasized the importance of aligning with international standards, establishing carbon trading systems, promoting green electricity, reducing carbon emissions from the Taiwan Power Company, and addressing climate change’s impact on industrial development. He dismissed concerns about future green energy supply sufficiency, citing the Taiwan Power Company’s prediction of an electricity demand increase to 7 million kilowatts by 2030, with supply surpassing 9 million kilowatts. Lai predicted an end to power shortages and the advent of a diverse green energy era.
2023/12/26 19:35
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Kaohsiung welcomes largest Don Quijote store in Taiwan
Don Quijote, the popular Japanese retail brand, has opened its largest flagship store in Taiwan, located in Kaohsiung. The store, situated in the Dalee Department Store, spans an impressive area of nearly 1,000 pings and features three distinctive zones catering to different shopping desires. These include an Outdoor section for camping and trekking gear, the Donki Sake area for Japanese alcohol enthusiasts, and the Coco Kawaii section for all things cute and adorable. In addition, the store offers a selection of ready-to-eat food restaurants. The opening day saw over 600 people queuing up outside the store, showcasing the excitement surrounding the new establishment. The Kaohsiung Mayor attended the opening, expressing astonishment at the turnout and lauding the decision of these two major Japanese brands, Muji and Don Quijote, to invest in Kaohsiung. With this new addition, Don Quijote now operates five stores across Taiwan, further solidifying its presence in the country’s retail landscape.
2023/12/07 19:05
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NSTC head confirms Taiwan’s effort in global fusion research
Taiwan’s Minister of Science and Technology Council (MOST) has acknowledged the country’s investments in high-temperature plasma and fusion research. While recognizing the potential of collaborating with overseas partners for the development of fusion power plants, the Minister stated that the current high cost of research funds makes it unfeasible at present. The issue was raised during an inquiry at the Executive Yuan Education and Culture Committee by Taiwan People’s Party (TPP) legislator Jang Chyi-lu, who expressed concerns about Taiwan’s ability to invest in nuclear fusion research. Jang highlighted the global interest in fusion power as a clean energy source. The Minister confirmed that Taiwan is actively advancing in controlled fusion research, particularly in magnetic confinement fusion, which aids in reducing carbon emissions. However, he cautioned that commercializing nuclear fusion may take 20 to 30 years. Kuomintang legislator Cheng Li-wun pointed out that the budget allocated for net-zero emissions research this year is significantly larger than the funds allocated for nuclear fusion research. Minister Wu acknowledged that Taiwan’s investment efforts in this area are conservative compared to other countries but did not rule out the possibility of participating in future global research opportunities.
2023/11/10 21:42
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JPEX Taiwan chief partner detained for alleged fraud
The Taipei District Prosecutors Office has requested detention for Chang Tung-ying, the chief partner of cryptocurrency platform JPEX’s Taiwan Office, over alleged fraud. Celebrity Nine Chen, once the spokesperson for JPEX, was called to testify as a witness but later treated as a defendant due to complaints by victims. The Taipei prosecutors directed the Ministry of Justice Investigation Bureau to carry out searches in nine locations and summoned Chang and three others. Chang and JPEX lecturer Shih Yu-sheng are suspected of violating the Banking Act and the Money Laundering Control Act. Other defendants include salesperson Liu Chien-fu, released on bail of NT$50,000, and Niu Keng-sheng, the registered person in charge of JPEX Taiwan, who was allowed to return home. Investigations have revealed that Chang and others are suspected of persuading the public to invest in financial products such as the virtual currency JTC, attracting investments with disproportionately high returns.
2023/11/09 11:21
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Gou criticizes talent loss due to poor national strategy
Taiwanese billionaire and independent presidential candidate Terry Gou addressed the talent drain in Taiwan and its impact on the tourism industry. He highlighted how the lack of qualified personnel has affected the competitiveness of the industry, leading to a decline in domestic travel. Gou also linked this talent drain to the fertility crisis in Taiwan and the issue of female employment. He suggested that remote working could help parents balance work and family life, and called on the government to invest in software and hardware developments to support remote job positions. Gou criticized the ruling party, the Democratic Progressive Party, for its failure to propose effective strategies for economic growth and emphasized the need for industrial upgrades to sustain Taiwan’s competitiveness in export-driven industries.
2023/11/08 19:57
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MOE to raise university professor academic research grants
The Ministry of Education (MOE) in Taiwan will increase monthly academic research grants for professors, associate professors, and assistant professors at public universities starting next year. This move aims to address low wages for academic talent in Taiwan. The Executive Yuan has committed to investing NT$33.29 billion over the next five years to support this initiative. The research grants for teaching staff at public universities will increase by NT$6,000 to NT$9,000 per month. Additionally, the Ministry will invest an additional NT$860 million to encourage private universities to raise their faculty salaries, bridging the salary gap between public and private institutions. The efforts also include the introduction of new doctoral scholarships and subsidies for part-time teaching assistant positions for doctorate students. The MOE’s Department of Higher Education Director-General, Chu Chun-chang, stated that if private universities can increase academic research funding by 15%, the MOE will cover 70% of the cost. Furthermore, starting next year, the "flexible pay" system for outstanding teachers will be expanded, with increased subsidies.
2023/11/06 16:20
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Taiwan parents want property in elite school areas for kids
Taiwan’s elite school districts thrive as parents invest in housing to secure education for their children. Enrollment strategies reshape housing markets around top schools.
2023/08/17 23:31
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Taiwan hotels cost NT$4,195 on average per night last year
Hotels in Taiwan are getting more expensive as Taiwan slowly opens after the pandemic hit. Still, it is a popular destination for hotel companies to invest in.
2023/02/16 19:03
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Taiwanese classrooms to receive 600,000 tablets
Taiwan’s Ministry of Education plans to invest NT20 billion between 2022 and 2025 to promote digital learning in Taiwan.
2022/11/14 19:00