Taiwan economy 結果共85筆

Kaohsiung Mayor Chen Chi-mai declares that Taiwan should not rely on China’s market, as it hampers Taiwan’s economy. He expresses regret that the Taiwan Semiconductor Manufacturing Company (TSMC) did not establish a factory in Taoyuan and that the Asia Silicon Valley Innovation and Development Center in Taoyuan has been halted. Chen highlights that TSMC’s 2-nanometer site in Kaohsiung is already operational. He points out that Kaohsiung’s 5G internet innovation park, modeled after Taoyuan’s success, is thriving, while Taoyuan’s center has been halted. Chen emphasizes Taiwan’s dominance in the global semiconductor industry, with TSMC controlling 92 percent of advanced manufacturing processes and 62 percent of global production value, and advocates for the development of Asia Silicon Valley as the correct path.

Taiwan is set to increase its minimum wage for 2024, benefiting approximately 2.39 million workers. Monthly basic wages will rise from NT$26,400 to NT$27,470, a 4.05% increase, benefiting 1.79 million workers. Hourly wages will also see a boost from NT$176 to NT$183, benefiting around 600,000 workers. The changes will affect labor insurance premiums, with employers bearing an extra cost of NT$2,307, workers contributing NT$659, and the government chipping in NT$329. This marks an increase of NT$89, NT$25, and NT$13, respectively, compared to the existing system. The adjustment will also impact the categorization of labor insurance premiums and retirement monthly contributions schedules. While the wage hike will increase labor costs, it provides an important boost for workers in challenging economic times.

Taiwan’s GDP per capita has surpassed South Korea’s for the first time since 2003, reaching US＄32,625 in 2022 compared to South Korea’s US＄32,410, according to the Directorate General of Budget, Accounting and Statistics (DGBAS). This economic victory can be attributed to Taiwan’s higher growth rate in recent years and the greater depreciation of South Korea’s won. Taiwan had been trailing behind South Korea in terms of GDP per capita since 2003, but the gap between the two has been consistently shrinking. Additionally, in financial market news, Taiwan’s stock index has also advanced beyond Hong Kong’s for the first time in nearly 31 years, with the Taiwan Stock Exchange index closing at 17,370 points, outpacing the Hang Seng Index, which was weighed down by China’s low-earning equities and closed at 16,993.

StarLux Airlines has announced that it will begin direct flights between Taichung and Macao starting March 31, 2023. The new route will have a weekly availability of eight round trips and will utilize the A321neo model aircraft, offering 188 seats. In addition to Macao, StarLux plans to expand its operations from Taichung International Airport to other cities, including Đà Nẵng and Takamatsu, in 2024. The airline also recently started selling tickets for its Taipei-Hakodate route, which is scheduled to launch on Feb. 1, 2024. With these new routes, StarLux aims to provide a fresh flight experience for the central region of Taiwan.

KMT presidential candidate Hou Yu-ih returns to his hometown of Chiayi’s Puzi City to pay respects to his late parents and campaign for votes. He shares his family’s struggles in poverty, highlighting his rise from a grassroots police officer to Director-General of the National Police Agency. Hou emphasizes the importance of unity among citizens, regardless of political affiliation, to enhance the nation’s well-being. He recounts his parents’ generation navigating tough conditions after World War II, with his father working as a butcher to make a living. Hou’s experiences drive him to run for president, aiming for a unified Taiwan that transcends party lines and improves the national welfare of the Republic of China.

Taiwan People’s Party vice presidential candidate Cynthia Wu expresses disappointment with the Ministry of Foreign Affairs (MOFA) over its handling of diplomatic challenges during COP28. Wu emphasizes the need for the government to reconsider its approach to enhance the economy and diplomacy simultaneously. She highlights the recent consensus in the European Union (EU), where over 700 members of the EU Parliament passed a motion to negotiate bilateral free trade agreements with Taiwan. Wu credits MOFA, the Legislative Yuan, and herself for raising Taiwan’s international profile.

A new survey conducted by Cathay Financial Holding reveals that 59.3% of respondents expect their year-end bonuses for 2023 to be between one to three months’ worth of salary. Additionally, 45.9% of those polled anticipate a salary increase in 2024, with 9.2% expecting the raise to exceed 3%. However, only 8.3% foresee year-end bonuses topping three months’ salary, while 32.4% predict bonuses will fall below one month. In terms of regular monthly earnings in 2024, 47.6% of participants project stability. The survey also indicates that the average growth expectation for Taiwan’s economy in 2024 stands at 2.52%, with 70% of those surveyed predicting a growth rate above 2%. Respondents expect the inflation rate in 2024 to be 2.21%, with 55% believing it will remain above 2%. These figures differ from the projections by the Directorate-General of Budget, Accounting and Statistics, which forecasts a 3.35% growth rate and a 1.64% inflation rate for Taiwan in 2024. In December, the optimism index for Taiwan’s stock market rose sharply to 16.1 from -0.4 in November, and the risk appetite index increased from 10.3 to 13.9, indicating market anticipation of potential rate cuts by major central banks next year. The survey, conducted from Dec. 1 to 7, gathered 13,379 valid questionnaires via email from members of Cathay Life Insurance’s official website and customers of Cathay United Bank.

President Tsai Ing-wen emphasizes the need for a stable government in the face of future challenges in Taiwan. She expresses her hopes to entrust the nation to reliable individuals during her visit to Hsien Heng Temple. Tsai highlights the experience and comprehensive backgrounds of the Democratic Progressive Party’s (DPP) presidential and vice-presidential candidates, Lai Ching-te and Hsiao Bi-khim. Reflecting on her own tenure, Tsai acknowledges the public support that has strengthened Taiwan’s economy. She discusses global events such as the pandemic, the Ukraine-Russia war, and Taiwan’s drought, noting Taiwan’s resilience and growing international support. Tsai emphasizes the importance of maintaining a parliamentary majority and urges the public to support the Lai-Hsiao ticket and cast their party votes for the DPP for a brighter future for Taiwan.

Taipei’s Presidential Office Secretary-General, Lin Chia-lung, has accused China of strategically timing the release of its trade barrier investigation results in order to influence Taiwan’s elections. Lin suggests that China’s actions, likened to ＂drawing a bow without releasing the arrow,＂ are aimed at instilling fear in Taiwanese voters and potentially affecting their economy. Lin also points out the coincidence between the recent visit of Kuomintang (KMT) Vice Chairman Andrew Hsia to China and the prompt release of the investigation’s findings. Lin raises concerns about the Chinese Communist Party’s interference in Taiwan’s elections, citing instances of borough wardens being invited on all-expenses-paid trips by China to exert influence. Reports indicate that Wang Huning, Chairman of the Chinese People’s Political Consultative Conference, convened a meeting in early December specifically to discuss interfering in Taiwan’s elections, suggesting a coordinated strategy from China targeting the electoral process in Taiwan.

A survey conducted by online job bank Yes123 revealed that 88.4 percent of Taiwan’s companies plan to hold year-end parties before the Lunar New Year, with employees most eager to receive cash prizes. The survey also found that 60.3 percent of companies with year-end party plans will host lucky draw events. Among the preferred prizes, cash ranked as the top choice with 66.2 percent of employees, followed by smartphones (43.3 percent), cars (42.5 percent), department store vouchers (34.3 percent), and convenience store coupons (33.2 percent). The survey also showed that 73.6 percent of office workers have previously won a prize at year-end parties, with the average value of the biggest prize being NT＄11,833. The spokesperson for Yes123, Yang Tsung-pin, stated that the willingness of companies to hold year-end events has returned to normal, indicating the recovery and stabilization of the economy following the disruptions caused by Covid-19. The survey was conducted online from Dec. 1 to Dec. 14, with 1,366 valid responses and a confidence level of 95 percent and a margin of error of plus or minus 2.65 percent.

The campaign office of Lai Ching-te, Democratic Progressive Party’s (DPP) presidential candidate, has released a new video titled ＂Taiwan in the world,＂ highlighting Taiwan’s reduced dependence on China and its increasing global recognition. Pan Men-an, head of the DPP’s campaign headquarters, expressed concern over opposition parties’ attempts to marginalize Taiwan and emphasized the significance of the 2024 election in determining Taiwan’s alignment with either the world or China. The video emphasizes Taiwan’s democratic development through international engagement and value-based diplomacy, while also strengthening ties with other nations. Lai’s campaign office spokesperson, Tai Wei-shan, pointed out that Taiwan’s trade dependence on China decreased from 40 percent during former President Ma Ying-jeou’s presidency to 34 percent. Additionally, a report by The Economist in August stated that under President Tsai Ing-wen’s seven-year rule, Taiwan has become the 21st largest economy globally, surpassing South Korea in terms of gross domestic product (GDP) per capita. Lai’s campaign office underscores the importance of the 2024 election in shaping Taiwan’s future trajectory and urges the public to make the right choice.

The George Washington University Professor Robert Sutter argues that Taiwan’s elections have little impact on U.S. policy towards the island, but the upcoming U.S. presidential election in 2024 could be significant. Both political parties in the U.S. and Congress have prioritized defending American interests and countering China’s actions, with Taiwan playing an increasingly important role. Taiwan’s strategic position, high-tech development, democratic politics, and free market economy have influenced the international order and led to stronger U.S. support. Sutter predicts that if Lai Ching-te, the Democratic Progressive Party presidential candidate, wins the election, U.S.-Taiwan cooperation will further deepen. However, Sutter also suggests that the 2024 U.S. election, particularly if a candidate with an ＂America First＂ stance like Donald Trump prevails, could bring a shift in U.S. policy consistency towards Taiwan and pose challenges in countering China’s provocations.

Lai Ching-te’s national campaign headquarters, led by campaign manager Pan Men-an and spokesperson Tai Wei-shan, unveiled their latest campaign commercial during a press conference titled ＂The World’s Taiwan.＂ Tai highlighted Taiwan’s increased visibility on the international stage, emphasizing the international community’s growing confidence in Taiwan and their willingness to collaborate. The campaign event follows Taiwan’s recognition as the top democracy in Asia by The Economist and its 6th place ranking in competitiveness worldwide according to the IMD Business School’s 2023 World Competitiveness Yearbook. Taiwan’s economic standing as the 21st largest economy globally and the 18th largest trading nation, with a higher GDP per capita than South Korea, was also praised. The campaign video emphasizes the importance of selecting the right leader to continue Taiwan’s advancement towards a more significant global presence.

Taiwan’s average regular earnings for employed workers increased by 2.49% from January to October, reaching NT$45,441. However, this growth is the lowest in the past three years, with total earnings, including bonuses and other irregular income, only up by 1.53%. The average monthly real wage slightly increased by 0.06% to NT$41,370, while the average total real wage decreased by 0.87% to NT$53,960, the first decline in seven years. This decline is attributed to a decrease in year-end bonuses following a cooling economy and a decrease in exports. Despite an overall increase in employment of 10,000 workers compared to last year, the manufacturing industry saw a significant drop of 27,000 employees due to economic adjustments. In October, the average regular wage was NT$45,564, up 0.13% from the previous month and 2.31% year-on-year. Part-time workers’ average hourly regular earnings increased marginally to NT$200, reflecting a 1.01% year-on-year gain. While industries such as arts, entertainment, and leisure services, as well as real estate, experienced wage increases, sectors like computer, electronic, and optical product manufacturing saw significant decreases in total wages by 18.54%. The employment numbers in manufacturing have been impacted by export decline, with an increase of 10,000 employed workers from January to October. The industrial sector saw a decrease of 0.63%, while the service sector grew by 0.67%. Accommodation and food services experienced a growth of 13,000 jobs, arts, entertainment, and leisure services saw an upsurge of 7,000, but manufacturing was hit with a reduction of 27,000 employees.

Taiwan is among the potential beneficiaries of Indonesia’s contemplation to offer visa-free entry for tourists from 20 major source countries, following the example set by Thailand. Indonesian Minister of Tourism and Creative Economy, Sandiaga Uno, disclosed in an interview that the government is discussing the launch of a visa exemption policy to attract more tourists and boost local economic development. Currently, travelers, including short-term tourists, need to secure a visa to visit Indonesia, including the option of Visa on Arrival (VOA) at designated entry points. Taiwanese passport holders can apply for VOA at 15 airports across Indonesia, such as Jakarta, Surabaya, Medan, and Bali, allowing them to stay up to 30 days with a one-time extension option. Given Taiwan’s place within the top 20 sources of foreign tourists to Indonesia, there is a significant chance that it will be included in the visa exemption program. This move could simplify travel for Taiwanese citizens and deepen tourism-based interactions between the two nations.

The Democratic Progressive Party’s vice presidential candidate, Hsiao Bi-khim, has emphasized the need for improved governance and fairer distribution of resources in Taiwan. Despite the country’s impressive economic growth, many citizens have yet to benefit from this boom. Hsiao acknowledged the challenges faced by the youth, including education, employment, and rising housing prices, and stressed the importance of a multifaceted approach to address these issues and meet the aspirations of the younger population.

The campaign spokesperson for Democratic Progressive Party’s (DPP) presidential candidate Lai Ching-te, Chen Shih-kai, has called on Kuomintang (KMT) presidential candidate Hou Yu-ih to clarify his stance on allowing Chinese workers into Taiwan. Chen expressed concerns about the impact on the employment of Taiwan’s youth and requested an outline of supporting measures. This request for clarification follows Hou’s proposal to promote increased cross-strait exchanges, including opening up to Chinese tourists and students. Chen criticized Hou’s policy, suggesting it aimed to help alleviate China’s youth unemployment problems. He highlighted Taiwan’s strong economic abilities, contrasting it with Hong Kong’s declining stock market due to Chinese government control. Chen also criticized China’s lack of transparency regarding its economic downturn and high unemployment rate. He emphasized the importance of Taiwan’s economic development and integration with the global community, stating that the future direction of Taiwan depends on its leadership. These remarks reflect the DPP’s stance on maintaining a strong local economy and labor market while considering broader cross-strait policies and potential socioeconomic impacts.

Taiwan’s 2023 GDP growth forecast has been lowered to 1.42%, the lowest in 14 years, due to weaker exports and private investment. Year-end bonuses for Taiwanese workers have also been affected, with the average amount shrinking to 1.08 months’ worth of salary, hitting a 10-year low. The financial industry leads in bonus payouts with an average of 1.83 months’ salary, followed by the semiconductor industry at 1.38 months. The healthcare services industry averages just 0.97 months of salary, while the accommodations and food services sector lags further behind at only 0.59 months. Despite the downward revision, the DGBAS remains optimistic for 2024, forecasting a GDP growth rate rebound to 3.35%. However, challenges such as the Ukraine-Russia war, the Israel-Palestine conflict, and ongoing inflation may pose risks to the global economy. Looking ahead to 2024, local job banks predict pay increases in 47.5% of companies, with an average salary hike of 3.2%, slightly lower than in 2023. Experts caution that Taiwan’s economic recovery may not be as swift as hoped.

Learn about Taiwan’s pig farming industry, which involves over 3 million people and has an annual value exceeding NT$150 billion. Acting Minister of Agriculture Chen Junne-jih emphasizes the importance of quarantine stations to protect the industry and prevent the spread of African swine fever. With over 5,000 pig farms operating in Taiwan, the industry contributes significantly to the economy. Chen’s comments came after the implementation of manual inspection stations at Taoyuan International Airport caused a decline in its Skytrax ranking.

Taiwan’s Ministry of Labor (MOL) plans to introduce Indian migrant workers to address labor shortages. The initiative will adhere to domestic regulations and is not an immediate importation of 100,000 workers. The MOL will negotiate a Memorandum of Understanding (MOU) on labor service cooperation with India to ensure quality workers without disrupting social stability. Several countries have had positive experiences importing Indian labor, and currently, around 2,700 Indian laborers work in Taiwan. Taiwan’s economic and trade relationships with India are strong, making labor cooperation a priority. After signing the MOU, discussions on industrial quotas will occur. The MOL will rigorously assess qualification criteria such as language skills, professional abilities, educational background, and good behavior. The aim is for the introduction of migrant workers to contribute positively to Taiwan’s economic and societal development.

National Taiwan University (NTU) President Chen Wen-chang has announced plans to establish a new undergraduate semiconductor program, which has been submitted to the Ministry of Education for review. The program is expected to start in 2024, admitting around 50 to 60 students per year, mainly from international backgrounds. The renovated building at NTU’s Shuiyuan Campus will be designated for the use of prospective semiconductor major students. Additionally, Chen expressed his intention to establish an ＂International Political Economy Institute＂ at the renovated Downtown Campus on Xuzhou Rd., with further discussions and a university-wide meeting scheduled for December 23 to address concerns and foster dialogue on the proposed institute.

The Minister of Economic Affairs praised the growing industry ties between Taiwan and Japan at the 2023 Japan-Taiwan Image Exhibition. Investments from Japanese companies such as Ebara, Fujifilm, and semiconductor factories are expected to contribute significantly to Taiwan’s economy, reaching a value of NTD$10 billion. Japan’s interest in Taiwan’s semiconductor industry, particularly TSMC’s projects in Kumamoto, suggests the potential for future collaboration. Minister Wang Mei-hua emphasized the importance of adopting low-carbon and smart technologies for a sustainable future, aligning with Japan’s smart city initiatives. She also highlighted the potential of hydrogen power, urging Taiwan to follow Japan’s lead in developing new technologies and exploring infrastructure partnerships.

U.S. Ambassador Matt Murray highlights the importance of APEC as a platform for dialogue on supply chain resilience and economic security, with a focus on the semiconductor industry, ahead of the Biden-Xi Summit.

The Kaohsiung City Tourism Bureau has fined four hotels in Taiwan between NT＄10,000 to NT＄50,000 for increasing room rates during Coldplay’s concerts on November 11 and 12 at the Kaohsiung National Stadium. To prevent the tourism and accommodation industry from exploiting such opportunities, the Tourism Bureau conducts proactive inspections of hotel room rates. Reports indicate that four hotels were found to have inflated their prices, with one hotel seeing a 60% increase, resulting in a fine of NT＄50,000. The Kaohsiung City Government is making efforts to establish the city as a major global concert destination, with performances by international and domestic acts scheduled for 2023. While these events stimulate the tourism economy and increase demand for hotel accommodations, some operators take advantage of the situation by raising room prices. The director of the Tourism Bureau, Kao Min-Lin, has urged industry operators not to inflate prices during festivals, major events, or concerts. The Tourism Bureau will continue to inspect hotel room rates, maintain tourism and accommodation quality through strict supervision, inspections, and fines, and protect consumer rights and interests.

Over half of Taiwan’s residents believe that the country’s president and majority of legislators should come from different political parties, according to a poll conducted by Shih Hsin University’s Institute of Knowledge Economy Development. The poll showed that 51.8% of respondents held this view. Additionally, the poll found that 77.7% of participants supported the president giving a State of the Nation address to the Legislative Yuan. However, only 28.8% of participants were aware that an annual report to the legislature was a presidential responsibility. In terms of party cooperation, 53.5% of respondents backed the idea of the Kuomintang and the Taiwan People’s Party taking turns in the Presidential or Premier posts. Within this group, 36.1% were ＂somewhat supportive＂ and 17.4% were ＂strongly supportive,＂ while 30.2% opposed such a proposal. Furthermore, 34.5% of participants believed it would be best if the president and the majority of the Legislative Yuan were from the same party. This opinion was more prevalent among university graduates (59.3%) and those with postgraduate degrees (52.3%). The poll also revealed that 36.8% of respondents support the current government led by the Democratic Progressive Party (DPP), while 45.8% oppose it, and 17.4% did not express an opinion.