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Vice President Lai visits China Steel, eyes net-zero goal
Explore Vice President Lai Ching-te’s visit to China Steel Corporation in Kaohsiung, where he delved into the company’s efforts toward net-zero carbon emissions, highlighting its role in Taiwan’s economic growth and sustainable development.
2024/04/26 22:13
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Taiwan’s economy to grow by 3.29% amid inflation concerns
Explore the latest economic forecasts for Taiwan as the Taiwan Institute of Economic Research projects a GDP growth of 3.29% and a CPI increase to 2.13%. Amidst stable domestic demand and expanding exports, concerns over rising costs and geopolitical tensions loom. With cautious business investments and the global economic climate’s uncertainties, Taiwan navigates through challenges towards growth.
2024/04/26 16:27
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Taiwan’s Central Bank updates inflation forecasts for 2024
Taiwan’s Consumer Price Index indicates a continued slowdown in inflation with a slight rise in March. The Central Bank revises its inflation forecasts as electricity and living costs surge. The public’s economic outlook remains cautiously optimistic.
2024/04/26 13:24
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Taiwan’s economic surge amid digital revolution
Explore Taiwan’s optimistic economic future through the eyes of NDC Minister Kung Ming-hsin, highlighting the nation’s digital transformation, resilience against natural disasters, and robust foreign investment growth amidst geopolitical challenges.
2024/04/24 18:03
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Investments in SE Asia soar as market potential grows
Taiwanese companies are increasing their investments in Southeast Asian countries, capitalizing on the region’s rising consumer purchasing power and strategic economic opportunities. Investments under the New Southbound Policy have seen a dramatic increase in 2024, with significant contributions from key players like Foxconn.
2024/04/19 16:55
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Experts call for monetary policy twist to boost investment
Explore how Taiwan’s excess savings rate, projected to reach 15.46% in 2024, indicates economic resilience yet poses challenges for growth. Learn about the government’s strategies to stimulate investment and spending.
2024/04/15 16:45
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Taiwan announces 665 job openings in state-owned enterprises
Taiwan’s Ministry of Economic Affairs announces recruitment for 665 positions across Taiwan Power Company, CPC Corporation, Taiwan Sugar Corporation, and Taiwan Water Corporation, with starting salaries of NT$41,000 to NT$42,000. Examination details for roles in 23 categories, including electrical engineering and business management, to be released online, offering a path to salary growth for top performers.
2024/04/12 11:02
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Former U.S. executive shares 30 years experience in China
Former American executive Mark Atkeson shares insights from his 30 years in China, discussing the significant role of the private sector, the state of the electric vehicle industry, and advocating for reduced government control.
2024/04/11 18:16
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NSF launches program to support Taiwan’s tech industry
The U.S. National Science Foundation (NSF) has launched a groundbreaking program in Taiwan to support the country’s semiconductor and AI industries, marking the first time the NSF has sponsored seminars abroad to discover and fund deep tech companies. The initiative aims to strengthen Taiwan’s role in global technology supply chains and drive economic growth for both countries.
2024/04/09 18:12
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Lai Ching-te to boost economy with industry exchanges
President-elect Lai Ching-te plans to boost Taiwan’s industrial development by engaging with key industries like machine tools and machinery. He aims to collaborate with the Ministry of Economic Affairs to promote economic growth post-inauguration. Lai has already visited various industries and emphasized the importance of the machinery sector in Taiwan’s economy.
2024/04/02 17:07
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Optimism in Asian manufacturing despite varied growth rates
The Purchasing Managers’ Index (PMI) for Asian manufacturing in March shows varying recovery rates across the region, with Taiwan’s manufacturing sector on the rise and confidence among Taiwanese businesses reaching a nearly three-year high. Japan also saw improvement, while South Korea and Vietnam experienced contractions. Paul Smith from S&P Global Market Intelligence notes signs of price and supply stabilization supporting a more optimistic outlook for the Asian manufacturing sector.
2024/04/01 18:23
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Electricity price hike to drive up costs: business heads
Discover how Fubon Financial Holding Chair Daniel Tsai predicts a rise in commodity prices following an electricity price increase in Taiwan. Gain insights from industry leaders like Tung Tzu-hsien of Pegatron Corp on the impact of electricity costs on manufacturing and services sectors, and the necessity of reducing government subsidies. Stay informed on economic growth projections and the interplay between electricity prices and overall market dynamics.
2024/03/28 17:59
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Taiwan’s economy glows green for stability in February: NDC
Taiwan’s NDC reports economic stability with a green light status for February, driven by production and export improvements linked to AI themes. Officials anticipate continued growth in March, citing positive trends in manufacturing, consumer confidence, and foreign trade. Investment in emerging technologies and R&D, along with steady public investment, are expected to sustain momentum.
2024/03/28 17:54
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Smart City Expo features global partnerships, collaboration
Explore how Taiwan’s Smart City Summit and Expo (SCSE) brings together global leaders to discuss the integration of smart city themes with ESG trends, fostering innovation, partnerships, and a vision for a smarter future.
2024/03/21 19:28
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Taiwan Premier advocates for peaceful cross-strait dialogue
Premier Chen Chien-jen of Taiwan expresses willingness for peaceful democratic talks on equal terms in cross-strait exchanges during the Legislative Yuan’s general policy interpellation. Lawmaker Lin Te-fu from the Kuomintang (KMT) highlights tensions in cross-strait relations and calls for dialogue, citing the lack of official communication and progress in the Cross-Strait Economic Cooperation Framework Agreement (ECFA) since 2015. Premier Chen emphasizes Taiwan’s economic growth potential and expanding market reach in New Southbound, Western, and East Asian countries.
2024/03/15 18:49
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Taiwan’s inflation rate projected to drop to 2%
Central Bank Governor Yang Chin-long predicts Taiwan’s inflation rate to drop to around 2% in 2024 due to expected international oil price decreases and modest service price increases. The Central Bank’s upcoming board meeting is anticipated to maintain the re-discount rate at 1.875%. Yang cites declining inflation rates and negative output gaps as key factors influencing the decision. Geopolitical conflicts and weather conditions pose uncertainties to Taiwan’s inflation trends.
2024/03/14 14:33
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China urges G20 unity for global economic growth
Ambassador Dai Bing of the Permanent Mission of the People’s Republic of China to the UN outlined China’s proposals at the G20 meeting, emphasizing global economic growth, Belt and Road Initiative participation, and cooperation for sustainable development.
2024/03/13 19:18
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Taiwan braces for electricity price hike amid inflation woes
Amid inflationary pressures, Taiwan plans to raise electricity prices, impacting daily life and industry, especially high-energy-consuming businesses like hot pot restaurants. The increase, projected to be across-the-board, could lead to higher operating costs and consumer prices. Taiwan Power Company faces substantial losses, with a potential 20% price surge predicted to affect economic growth and consumer prices. Some workers see the adjustment as a step towards sustainable energy development, encouraging energy-saving and emission-reduction industries.
2024/03/13 15:28
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China targets 5% GDP growth in Premier Li Qiang’s report
The second session of the 14th National People’s Congress in China opened with Premier Li Qiang setting a GDP growth target of around 5%. Last year’s GDP growth was 5.2%, ranking among the top of the world’s major economies. Li outlined key development goals, including job creation and environmental improvements. The premier acknowledged challenges in China’s economic recovery, emphasizing the need for effective demand. The decision to discontinue post-congress press conferences by the premier has raised speculation about policy transparency.
2024/03/05 16:05
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China’s Premier sets economic, diplomatic goals at NPC
The 14th National People’s Congress in Beijing saw Premier Li Qiang deliver his first government work report, emphasizing the "One China" principle and opposing "Taiwan independence." The report highlighted progress in military and national defense construction, with no press conference held this year. Plans include boosting employment opportunities and achieving 5% GDP growth. Last year, China’s economy showed recovery with a 5.2% GDP increase.
2024/03/05 14:47
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Taiwan’s economic shows stability: NDC
Stay updated on Taiwan’s economic progress as the National Development Council reports a stable outlook for January 2024. Economic indicators show positive trends in production, investment, sales, and finance, signaling continued recovery. Follow the transition from recession to a transitional economy in key sectors, reflecting a promising shift in Taiwan’s economic landscape.
2024/03/04 18:06
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Worldwide TV sales drop to new decade low: report
Global TV sales dip in 2023, with further decline projected for 2024 amidst changing consumer habits and potential material shortages, impacting prices. Experts foresee growth amid economic recovery.
2024/03/01 17:01
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Taiwan’s MOEA to monitor electricity price changes
Stay updated on Taiwan’s economic landscape with the latest news from Minister of Economic Affairs Wang Mei-hua. Discover insights on electricity price fluctuations and their impact on domestic issues, as well as the government’s strategies to address losses incurred by Taiwan Power Company. Explore the projections for economic growth and inflation rates amidst industry recovery and upcoming events.
2024/03/01 15:56
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Taiwan’s exports hit top-three record despite 2023 dip
Taiwan’s export performance reached a historic high from 2021 to 2023, but experienced a 9.8% decline in 2023 compared to the previous year, according to the Ministry of Finance. Despite this setback, exports to the U.S. continued to soar with a 49.7% year-on-year increase, while exports to countries covered by Taiwan’s New Southbound Policy also saw significant growth. However, exports to mainland China decreased to 35.2%. Taiwan’s total export tally for 2023 amounted to US$432.48 billion, ranking behind only 2022 and 2021. The demand for communications and electronic products during the pandemic-induced work-from-home trend boosted Taiwan’s exports. The Taiwan Institute of Economic Research predicted significant international trade growth in 2024, which would benefit export-oriented economies like Taiwan. In December 2023, Taiwan’s exports to the U.S. reached $8.49 billion, and exports to southern countries surged by over 50%. However, due to the limited coverage of free trade agreements (FTAs), many traditional Taiwanese industries chose to restructure risks and production in Southeast and South Asia. The return of Taiwanese businesses and the expansion of local factories after the U.S.-China trade war, as well as global economic circumstances, significantly impacted the decline in 2023 exports. The Directorate General of Budget, Accounting and Statistics (DGBAS) estimated the first-quarter export volume for 2024 to be around US$106.1 billion, which is an improvement compared to the same period in 2023, but a 10% decrease from 2022.
2024/02/15 10:49
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Hon Hai anticipates growth amid global AI chip scarcity
Hon Hai Precision Industry Chairman Young Liu has stated that the AI server industry is facing a shortage of AI chips, which is expected to persist throughout 2024. Liu emphasized that the problem can only be resolved by increasing production capacity in new factories. He also highlighted that geopolitical and economic conditions may affect the demand for consumer electronic products this year. Despite holding a significant position in the global AI server industry, Hon Hai is facing a shortfall in the supply of AI chips from major manufacturers like NVIDIA. While some second and third-tier factories claim their AI server performance will be good in 2024, Liu expressed skepticism and confusion about this situation.
2024/02/05 10:21