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  • Evergreen, Yang Ming hold off to resume Red Sea route

    Taiwanese shipping companies Evergreen Marine Corp. and Yang Ming Marine Transport Corp. have chosen not to resume their Red Sea route following Maersk’s decision to do so. Maersk reinstated the route due to the "Red Sea crisis" caused by increased violence from Yemen’s Houthi rebels. The deployment of the multinational naval task forces under the U.S.-led Operation Prosperity Guardian (OPG) has allowed maritime trade to pass through the Red Sea/Gulf of Aden and resume using the Suez Canal. However, Maersk warns that the overall risk in the region has not been eliminated. The decision has led to concerns about container prices and resulted in a decline in Evergreen and Yang Ming’s stock prices. Freight rates for European and American shipping liners saw a significant increase after Maersk’s announcement.
    2023/12/26 18:31
  • Taiwan’s MOL reports surge in furloughed workers

    The Ministry of Labor reported a significant increase in the number of furloughed workers, with the manufacturing industry being the most affected. The labor ministry also predicted a high demand for labor in the accommodation and food services industry and the wholesale and retail trade sector. The global labor shortage crisis has led to businesses implementing solutions such as cross-training to boost productivity. The Regent Taipei successfully reduced its labor shortage rate through cross-training and creating a positive work environment. Fair wages and a positive work environment are believed to be key factors in employee retention.
    2023/12/26 15:52
  • Taiwan can win international trust, says DPP’s Hsiao

    DPP vice-presidential candidate Hsiao Bi-khim expressed confidence in Taiwan’s ability to gain international trust and recognition despite global pressures. She emphasized the importance of maintaining a diplomatic balance, using the analogy of a cat’s sense of balance. Hsiao also highlighted the need for a fair and balanced Taiwan-U.S. trade relationship. She believes that promoting mutual benefits between Taiwan and the U.S., including in areas of national security and economics, will safeguard Taiwan’s democratic freedoms. Hsiao acknowledged the differences between Taiwan and Israel but suggested that Taiwan could learn from Israel’s innovations in military training. She also emphasized the extension of compulsory military service in Taiwan to ensure peace and build strength.
    2023/12/26 11:39
  • TCX initiates first global carbon credit trades

    The Taiwan Carbon Solution Exchange (TCX) has launched its first international carbon credit transactions, offering credits sourced from various regions in Asia, Africa, and South America. Notable companies such as TSMC, Foxconn, China Steel Corporation, and Taiwan Financial Holding have expressed interest in participating in the inaugural trade event. The initial batch of credits available on the Taiwan Carbon Exchange is estimated to range from 50,000 to 100,000 tons and has been certified by the Gold Standard. Once procured, these credits cannot be resold on the carbon exchange platform, and their use will be determined by each company’s individual needs. It is important to note that these credits have international "voluntary" carbon rights and do not fall under "mandatory" carbon pricing, meaning they cannot be used to offset Europe’s Carbon Border Adjustment Mechanism (CBAM).
    2023/12/22 16:49
  • Scholars predict halt to ECFA amid suspended tariff cuts

    China has announced the suspension of preferential tariffs on certain products under the Economic Cooperation Framework Agreement (ECFA), potentially impacting cross-strait trade. Li Zhenguang, deputy dean of the Taiwan Research Institute at Beijing Union University, suggests that this move could lead to the complete termination of the ECFA, creating uncertainty for the future. Tang Yonghong, deputy director of the Taiwan Research Center at Xiamen University, considers the suspension to be moderate and emphasizes that China will respond with corresponding measures if Taiwan imposes trade bans or limitations. The development of cross-strait trade is contingent on the relationship between the two sides, with trade being affected if relations become confrontational. China’s suspension of tariff concessions for 12 imported items is seen as a warning to Taiwan in defense of the "1992 Consensus," indicating China’s unwavering stance on cross-strait relations.
    2023/12/21 21:36
  • Taiwan calls for WTO to resolve disputes with China

    Deputy Trade Representative Yang Jen-ni of Taiwan’s Office of Trade Negotiations (OTN) criticized China’s recent trade barriers against Taiwan, highlighting four major concerns. Yang pointed out that China’s investigation process is biased, unfair, nontransparent, and not in line with international norms. Documents such as applications, comments, respondent summaries, and non-confidential data were undisclosed or restricted to foreigners. Additionally, Yang condemned China for bypassing the Taiwan government during the investigation, prioritizing political objectives over economic ones. She also accused China of misinterpreting trade policies and creating a false narrative that Taiwan is unwilling to address disputes. Lastly, Yang criticized China for producing inflated and unverifiable data in its impact assessment, without solid evidence to support its claims. Yang urged China to abandon its one-sided political manipulation and suggested initiating consultations through the World Trade Organization (WTO) mechanism to resolve trade disputes.
    2023/12/21 21:34
  • Hsiao Bi-khim stresses strength for Taiwan’s status quo

    DPP vice-presidential candidate Hsiao Bi-khim emphasized the importance of strength in maintaining Taiwan’s status quo and preventing bullying. She highlighted the current state and prospects of U.S.-Taiwan relations, noting that U.S. policy has consistently supported maintaining the status quo and opposing the use of force. Hsiao mentioned that under Xi Jinping’s leadership, the U.S. has shifted to view China competitively but does not seek a new Cold War. She emphasized critical issues of peace, security, and economic cooperation in Taiwan-U.S. ties, including the U.S.-Taiwan Initiative on 21st-Century Trade. Hsiao underscored Taiwan’s determination to defend itself, citing the national defense budget and military modernization reforms. She referred to herself as a "cat warrior" and advocated for government reform and a balanced international stance. Hsiao urged that Taiwan not become a divisive issue between American political parties and emphasized the need for a proper balance amidst U.S.-China competition to ensure Taiwan’s safe and steady progression.
    2023/12/20 21:21
  • Cynthia Wu slams MOFA over COP28 diplomacy

    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.
    2023/12/20 21:13
  • Taiwan’s new southbound investment tops China’s in 2023

    Taiwan’s investments in New Southbound countries in the first 11 months of 2023 have surpassed investments in Mainland China, according to the Ministry of Economic Affairs (MOEA). Investments in the New Southbound countries reached US$5.13 billion, a 7.26% year-on-year increase, outstripping investments in Mainland China, which stood at US$2.96 billion. This trend is driven by the supply chain diversification, accelerated by the U.S.-China trade war and major manufacturers’ strategies to decentralize operations. Investments in New Southbound countries now account for around 20% of Taiwan’s total overseas investments, whereas China accounts for approximately 11.5%. From January to November 2023, there were 2,102 approved cases of overseas-focused investments by Taiwanese and foreign entities, a decrease of 8.89% compared to last year. The amount invested reached about US$10.8 billion (approximately NT$323.7 billion), the second-highest for the period in the last 15 years but still representing a 13.04% decline from the previous year. Investments from New Southbound countries into Taiwan saw 609 approved cases within the same timeframe, an annual increase of 41.30%. The investment totaled approximately US$2.5 billion (about NT$75.7 billion), up 25.20% from the previous year, with the most significant inflows originating from Singapore, Thailand, and Malaysia. On a broader scale, the 504 approved cases of outbound investments from Taiwan marked a 2.44% annual increase, surging by 145.61% financially to roughly US$22.8 billion (approximately NT$684.4 billion). Investments in New Southbound countries revealed 195 approved cases, rising by 35.42% year-on-year, totaling around US$5.1 billion (approximately NT$ 154.1 billion) and constituting 20% of Taiwan’s total foreign investments. Singapore, Vietnam, and Thailand were the leading recipients. Conversely, approved investments in Mainland China amounted to 305 cases, down by 7.58%, with the approved investment sum decreasing by 33.91% to approximately US$2.96 billion (about NT$88.9 billion). Mainland Chinese investments in Taiwan experienced a 45.45% decline in approved cases to 24, with the investment figure falling 21.65% to about US$27.4 million (approximately NT$821.6 million).
    2023/12/20 20:45
  • Taiwan tops Asia in human freedom, ranks 12th globally

    The Cato Institute and the Fraser Institute have co-published the 2023 Human Freedom Index, revealing that Switzerland maintains its position as the country with the highest levels of human freedom. Taiwan, on the other hand, ranks 12th globally and claims the top spot for human freedom in Asia. The report highlights that the COVID-19 pandemic has generally led to a decline in human freedom, particularly in areas such as the rule of law, action, speech, assembly, association, and trade. Taiwan performs well in individual freedom, securing the 12th spot with a score of 8.98 out of 10, and ranks 11th in economic freedom with a score of 7.79, resulting in an overall score of 8.56. The Human Freedom Index is a comprehensive assessment of personal, civil, and economic freedoms worldwide, based on data from 2021 encompassing 165 jurisdictions.
    2023/12/20 19:18
  • Taiwan accuses China of election meddling via trade probe

    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.
    2023/12/20 18:23
  • Lai-Hsiao ticket narrowly leads in tight presidential race

    A new poll by ETtoday reveals a tight race in the upcoming 2024 presidential election in Taiwan. The Democratic Progressive Party’s Lai-Hsiao ticket, consisting of Lai Ching-te and Hsiao Bi-khim, leads with 35.9% support, slightly ahead of the Kuomintang’s Hou-Jaw ticket, comprised of Hou Yu-ih and Jaw Shaw-kong, at 34.7%. The Taiwan People’s Party’s Ko-Wu ticket, featuring Ko Wen-je and Cynthia Wu, trails behind with 19.6% support. Despite the close percentages, 44.3% of the public expresses confidence in the Lai-Hsiao ticket’s ability to win, compared to 30.1% for Hou-Jaw and 13.8% for Ko-Wu. Conversely, 40.5% of voters are certain they will not vote for Lai-Hsiao, while 27.3% reject Hou-Jaw and 20.6% turn away from Ko-Wu. In terms of non-constituency legislators, the KMT leads with 35% support, followed by the DPP with 31.3% and the TPP at 14.5%. The poll highlights public concern over Taiwan’s economic ties with China, particularly due to recent trade restrictions viewed as trade barriers and the suspension of the Economic Cooperation Framework Agreement (ECFA) measures. Additionally, 47.1% of respondents worry that a Lai Ching-te presidency could worsen cross-strait economic and people-to-people exchanges, while 16.4% hold the same concern for Hou Yu-ih and 11.6% for Ko Wen-je. The poll, conducted from December 18 to 19, surveyed 1,224 respondents with a margin of error of plus or minus 2.8%. Compared to the previous poll from December 14 to 15, support for the Lai-Hsiao ticket dropped by 2.6 percentage points, while the Hou-Jaw ticket saw a minor decline of 0.4 percentage points, and the Ko-Wu ticket remained unchanged. The number of undecided voters increased to 9.8%, indicating the undecided nature of the electorate ahead of the presidential vote.
    2023/12/20 15:35
  • Poll: 40.5% reject DPP’s Lai-Hsiao presidential bid

    A new poll reveals that 40.5% of Taiwanese would definitely not vote for the Democratic Progressive Party’s Lai-Hsiao ticket (Lai Ching-te, Hsiao Bi-khim) in the upcoming 2024 presidential election. The survey also shows that 47.1% believe cross-strait economic and people-to-people exchanges could worsen under Lai Ching-te’s leadership. Lai-Hsiao currently leads with 35.9% support, followed closely by the Kuomintang’s Hou-Jaw ticket (Hou Yu-ih, Jaw Shaw-kong) with 34.7%, and the Taiwan People’s Party’s Ko-Wu ticket (Ko Wen-je, Cynthia Wu) at 19.6%. A small percentage plan to abstain or render their ballots invalid, and a significant portion remains undecided. Optimism for Lai-Hsiao winning stands at 44.3%, while 27.3% completely rule out voting for Hou-Jaw and 20.6% against Ko-Wu. Hou Yu-ih is believed to have a 16.4% impact on cross-strait relations, while Ko Wen-je holds an 11.6% influence. The poll was conducted from December 18-19, surveying 1,224 individuals from Taiwan and the Fujian area. It was funded by ETtoday and has a sampling error of ±2.8% at a 95% confidence level.
    2023/12/20 11:51
  • Premier Chen urges WTO resolution for China trade spat

    Taiwan’s Premier Chen Chien-jen expresses regret over China characterizing Taiwan’s trade restrictions as trade barriers, emphasizing the need to address conflicts through the World Trade Organization (WTO) mechanisms. He urges for peaceful and equal cross-strait exchanges, highlighting that Taiwan and China can negotiate through the WTO. Premier Chen also extends condolences to the families of the victims of the recent earthquake in China’s Gansu province and offers assistance with relief efforts if needed.
    2023/12/19 16:55
  • Hou vows to join key trade pacts, criticizes DPP inaction

    Kuomintang (KMT) presidential candidate Hou Yu-ih criticizes Democratic Progressive Party (DPP) opponent Lai Ching-te for lacking clarity on cross-strait economic and trade policies. Hou emphasizes the importance of maintaining trade with China and accuses the DPP of not participating in major trade agreements. He vows to join these agreements and secure Taiwan’s position in regional economics. KMT vice-presidential candidate Jaw Shaw-kong also criticizes the DPP for not engaging with mainland China and increasing banned items from China. He argues that the KMT is better equipped to initiate cross-strait dialogues.
    2023/12/18 21:15
  • MOFCOM ends probe, rules Taiwan’s import ban a trade barrier

    The Ministry of Commerce of the People’s Republic of China (MOFCOM) has concluded its investigation into Taiwan’s ban on importing certain products from the mainland, deeming it a trade barrier. The investigation, conducted under the Foreign Trade Law and Foreign Trade Barrier Investigation Rules, found that the ban hinders cross-strait trade relations. The ban, which covers 2,455 Taiwanese goods including agricultural products, minerals, chemicals, and textiles, was announced by Beijing in April. Originally scheduled to release the findings on October 12, 2023, MOFCOM extended the deadline to January 12, 2024. Taiwan Affairs Office (TAO) spokeswoman Zhu Fenglian criticized the ban, stating that it goes against the Economic Cooperation Framework Agreement (ECFA), which aims to reduce or eliminate tariffs and non-tariff barriers between the two sides. Zhu emphasized that such restrictions harm the interests of both sides and pledged support for measures based on the investigation’s results.
    2023/12/15 16:11
  • DPP’s Lai unveils video, stresses global Taiwan role

    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.
    2023/12/12 21:21
  • Vice Premier upbeat on U.S.-Taiwan trade talks progress

    Vice Premier Cheng Wen-tsan expresses optimism about trade talks with the United States, citing U.S. Trade Representative Katherine Tai’s positive stance on advancing Free Trade Agreements (FTAs) with key trading partners. The discussions between Taiwan and the United States have made significant progress, with the US-Taiwan Initiative on 21st Century Trade already reaching five agreements. Second-phase talks, including agriculture, are currently underway. The possibility of addressing tariffs in the negotiations is not ruled out. Additionally, the U.S. House of Representatives has proposed mutual tax exemption to alleviate taxation burdens, a development that could spare corporations and individuals from double taxation issues. Cheng emphasizes the need for diligent and concerted effort in deepening economic ties between Taiwan and the United States.
    2023/12/12 18:15
  • Kaohsiung, Japan deepen bond in trade, education, tourism

    Chairman Mitsuo Ohashi of the Japan-Taiwan Exchange Association visited the Kaohsiung City government to discuss enhancing industry, education, and tourism cooperation exchanges with Mayor Chen Chi-Mai. Ohashi emphasized the significance of Kaohsiung in Japan’s relations with Taiwan. Mayor Chen expressed enthusiasm for deeper interactions between Taiwan and Japan, highlighting the crucial role of Taiwan’s semiconductor industry in global supply chain security. He cited the collaboration between Taiwan Semiconductor Manufacturing Co. (TSMC) in Kaohsiung and Kumamoto, Japan, as an example of potential economic cooperation. Chen described the Taiwan-Japan relationship as a deepening bond, referencing their long-standing friendship and mutual support during crises. Ohashi, who visited Kaohsiung 40 years ago and has maintained connections with past Mayor Chen Chu and Taiwan’s representative to Japan, Frank Hsieh, expressed admiration for Kaohsiung’s recent development. He believes that Japan-Kaohsiung cooperation should extend to the private enterprise level and is hopeful for the future of Japanese-Taiwanese relations. Ohashi frequently speaks at the annual National Day reception at the Taiwan Economic and Cultural Representative Office in Japan, advocating for promoting friendly Japan-Taiwan relations as an example for the international community.
    2023/12/12 17:58
  • President Tsai cites Taiwan’s key role

    President Tsai Ing-wen urges international support for Taiwan, citing its democratic values, importance in the global supply chain, and strategic geographical location. Reflecting on the Democratic Progressive Party’s success in Taoyuan City, Tsai highlights the party’s growing vote shares and her achievements in the area. As the electoral campaign continues, Tsai emphasizes the completion of the first phase of her political blueprint and the need for her party’s candidates to remain in power to implement future plans.
    2023/12/12 17:56
  • Taiwan food delegation eyes Australian market expansion

    The General Chamber of Commerce (ROCCOC) Chairman, Paul Hsu, led a delegation of 16 Taiwanese food suppliers on a mission to tap into the Australian market. The delegation attended business matchmaking events in Brisbane, Sydney, and Melbourne as part of the "Procurement Meetings of 2023 Taiwan Food Industries Delegation to Australia." The objective of this initiative is to enhance the international presence of Taiwanese food products, boost competitiveness, and foster economic collaboration between Taiwan and Australia. Hsu emphasized the complementary nature of Taiwan and Australia’s industries due to their contrasting seasons. The delegation has secured orders worth US$3.7 million so far, and Hsu remains optimistic about further trade opportunities through ongoing communications with Australian distributors.
    2023/12/12 15:46
  • Alexander Yui assumes role as Taiwan’s envoy to U.S.

    Alexander Yui, Taiwan’s new representative to the United States, arrived in Washington D.C. on Monday (Dec. 11), to assume his post. Ingrid Larson, the managing director of the American Institute in Taiwan (AIT), welcomed him at the airport. Yui’s arrival follows the resignation of former representative Hsiao Bi-khim on Nov. 20. Yui, who had recently become the top envoy to the EU and Belgium, was chosen to replace Hsiao. Yui emphasized security, economic and trade cooperation, and Taiwan’s international space as the key aspects of Taiwan-U.S. relations. He highlighted the need to safeguard Taiwan’s upcoming election from external influences. Yui committed to deepening Taiwan-U.S. relations by building on Hsiao’s work and collaborating with his embassy team. Laura Rosenberger, chair of AIT, expressed confidence in Yui’s experience and anticipated further development and strengthening of the bilateral partnership.
    2023/12/12 13:27
  • Hsiao Bi-khim advocates for DPP majority in legislature

    Democratic Progressive Party (DPP) vice-presidential candidate Hsiao Bi-khim emphasized the importance of the DPP holding a majority in the legislature to ensure continuous progress for Taiwan. Speaking at a women’s support group event in Tucheng District, Hsiao highlighted her past achievements, including signing the inaugural agreements of the U.S.-Taiwan Initiative on 21st-Century Trade. She also mentioned that talks to prevent double taxation with the U.S. are nearing completion, which will enhance bilateral trade relations. Hsiao stressed the DPP government’s commitment to establishing friendly and commercial ties with the international community, urging a broader perspective beyond the focus on the 1992 Consensus. She expressed confidence in the foreign policy direction under President Tsai Ing-wen’s administration and the potential for a Lai-Hsiao team to continue this diplomatic route. Hsiao emphasized the symbolic significance of drawing number two in the election draw, representing integrity and steady advancement, and portraying the elections as a testament to Taiwan’s democratic strength. She reiterated the importance of a legislative majority for the DPP to implement stable and progressive policies, reducing resource drain from cross-party conflicts.
    2023/12/12 13:26
  • Lai cites Hong Kong’s plight in Taiwan election rally

    Presidential candidate Lai Ching-te warns against Taiwan becoming the next Hong Kong and emphasizes the need to resist Chinese aggression. He cites Hong Kong pro-democracy activist Agnes Chow as an example of what Taiwan must avoid. Lai criticizes the plans of rival candidates to renegotiate the Cross-Strait Service Trade Agreement with China, recalling the 2014 Sunflower Student Movement. Vice presidential candidate Hsiao Bi-khim highlights Taiwan’s capabilities to construct warships and produce missiles, symbolizing the Taiwanese people’s fearlessness against Chinese pressure.
    2023/12/11 20:44
  • Taiwan thanks allies for support at COP28 side event

    Taiwan’s Ministry of Foreign Affairs expresses gratitude to ministers from five diplomatic allies for advocating for Taiwan at COP28. Leaders from Paraguay, Palau, Saint Lucia, Saint Kitts and Nevis, Tuvalu, and Eswatini voiced support for Taiwan at the World Climate Summit, marking another step forward for Taiwan’s international backing. Haiti’s Minister of Environment acknowledged Taiwan’s dedication to addressing climate change, while the Marshall Islands’ Minister of Foreign Affairs and Trade affirmed Taiwan’s deserving of observer status in such forums. Guatemala’s Minister of Environment and Natural Resources showcased Taiwan’s contributions to climate change efforts, and Nauru’s Deputy Minister of Climate Change & National Resilience appreciated Taiwan’s support for the Just Transition fund in the Pacific. Taiwan emphasizes its eagerness to work with allies and urges the global community to support its meaningful participation in the UNFCCC.
    2023/12/11 20:19
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