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  • Natixis: Taiwan’s economy set for growth amid 2024 election

    The upcoming Taiwan presidential election is expected to have a significant impact on the country’s economic growth, according to a research report by France’s Natixis Corporate and Investment Banking company. The report suggests that regardless of the election outcome, Taiwan is poised for economic growth, with the consumer and tech industries leading the way. The research predicts that economic growth could increase from 1.2% in 2023 to 2.9% in 2024. While candidates share similar social and labor policies, the report highlights the major differences in their positions on industrial and energy areas, as well as Taiwan’s economic relationship with China. The report also mentions the potential role of Taiwan People’s Party (TPP) candidate Ko Wen-je in triggering legislative instability. The incumbent Democratic Progressive Party (DPP), leading in polls, is expected to continue pushing for diversified trade and investment policies, shifting focus from China to the U.S. and other Asian regions. However, achieving these targets may be challenging as Taiwan has missed out on regional trade and economic agreements such as RCEP, CPTTP, and the U.S.-led IPEF. If the Kuomintang (KMT) wins the election, they might seek closer trade and investment links with China by expanding the Economic Cooperation Framework Agreement (ECFA), according to Natixis.
    2024/01/06 17:16
  • Hou Yu-ih vows to create economic cabinet if elected

    Kuomintang’s (KMT) presidential candidate, Hou Yu-ih, vows to create an economic cabinet to address people’s livelihood concerns if elected. During a visit to Taipei’s First Fruit and Vegetable Wholesale Market, accompanied by Taipei Mayor Chiang Wan-an, Hou emphasized his commitment to market reforms, modernizing facilities, and improving cooperation between central and local authorities for the preservation and sale of fruits and vegetables. He received a warm reception from stall owners, who took selfies with him and presented him with fruits such as pineapples and cherries. With the presidential election approaching, candidates are making a final push to secure votes.
    2024/01/04 14:45
  • Overseas community emphasizes voting’s role in democracy

    The San Francisco overseas Chinese community hosted a New Year flag-raising ceremony, with Fremont Mayor Lily Mei encouraging the next generation to run for office and speak out for Asians. Mei also urged the community to vote robustly in the upcoming T U.S.-Taiwan relations and reminded them not to underestimate individual power. Director-General Scott Lai of the Taipei Economic and Cultural Office in San Francisco reviewed Taiwan’s accomplishments last year, highlighting its rise in various indices, ranking second in freedom in Asia and sixth in global competitiveness. Lai also noted the meeting between Morris Chang, founder of Taiwan Semiconductor Manufacturing Company (TSMC), and key U.S. officials at the 2023 Asia Pacific Economic Cooperation (APEC) summit, praising it as a symbol of U.S. executive branch support for Taiwan. However, Lai acknowledged challenges lie ahead for Taiwan, particularly in its tourism, sightseeing, and restaurant industries’ recovery, as well as social issues such as declining birthrates and wealth disparity. Lai assured that the government would take a more proactive and responsible stance to make positive changes felt by the public.
    2024/01/02 16:00
  • President Tsai stresses diversification amid ECFA concerns

    President Tsai Ing-wen criticizes China’s one-sided trade barriers and emphasizes that bilateral trade relations should not be used as a political tool in her New Year’s address. The tariff preference for certain products under the Economic Cooperation Framework Agreement (ECFA) has been suspended as of Jan. 1, 2024. Tsai notes China’s intervention in elections and expresses confidence in the people of Taiwan to make wise decisions. She argues that Taiwan’s industries already have global exposure and are gradually reducing reliance on China. Tsai believes that while the economic benefits of the ECFA are limited, diversifying risks and global positioning are important for Taiwan’s industries. She highlights that China often imposes unilateral trade barriers on other countries for political reasons, citing examples of punitive tariffs and import bans on Lithuania and Australia due to their friendly relationship with Taiwan and criticism of China’s human rights policy in Xinjiang.
    2024/01/02 12:04
  • Lai Ching-te slams KMT’s outdated policies in 2024 debate

    In this story, Democratic Progressive Party (DPP) presidential nominee Lai Ching-te criticizes the outdated policy views of Kuomintang’s (KMT) presidential candidate, Hou Yu-ih, during a presidential debate. Lai emphasizes the need for abandoning outdated policies and upgrading past efforts to comprehend and master the rapidly changing world. He outlines his policy principles, including boosting national projects, enhancing defense, economic and democratic ties, and maintaining dignified, equal cooperation with China. Lai believes that the 2024 presidential election will determine whether Taiwan aligns with democracies or authoritarian entities, and he highlights that voting for him and his running mate Hsiao Bi-khim is the only option to continue collaborating with democratic allies.
    2023/12/30 19:17
  • MOFA counters criticism on Taiwan’s stalled FTAs

    The Ministry of Foreign Affairs (MOFA) has stated that Beijing is working to isolate Taiwan globally in response to criticisms made by Kuomintang (KMT) presidential candidate Hou Yu-ih regarding Taiwan’s stagnant free trade agreements (FTA). During a presidential policy presentation, Hou criticized the Democratic Progressive Party (DPP) for its unsatisfactory economic performance and the lack of progress in bilateral and multilateral trade agreements. MOFA emphasized Taiwan’s commitment to global economic integration and bilateral economic cooperation, but highlighted the interference from China. MOFA believes that Taiwan’s ability to participate effectively in economic integration depends on its strength and global connections, especially as countries like the U.S. and European nations reassess their economic risks with China. MOFA urges all Taiwanese, regardless of political affiliation, to unite and enhance cooperation with like-minded nations in the face of external challenges.
    2023/12/30 17:19
  • Hou Yu-ih challenges Tsai’s foreign policy effectiveness

    Kuomintang (KMT) presidential candidate Hou Yu-ih challenges the effectiveness of President Tsai Ing-wen’s foreign policy, questioning its impact on Taiwan-China communication, severed relations with former allies, extended military service, and increased risk of Chinese fighter jets breaching Taiwan’s airspace. The three presidential contenders, including Democratic Progressive Party (DPP) candidate Lai Ching-te and Taiwan People’s Party (TPP) candidate Ko Wen-je, discuss U.S.-Taiwan relations and their stance on President Tsai’s policy. Hou questions DPP’s handling of tainted politics during their time in power and highlights his support for the Economic Cooperation Framework Agreement (ECFA). He also addresses concerns over cross-strait flight operations and employment difficulties for Chinese students in Taiwan. Hou pledges to follow the Constitution of the Republic of China (Taiwan) and maintain administrative neutrality without relying on any side.
    2023/12/30 15:51
  • KMT’s Hou slams DPP’s ECFA ’poison pill’ claims

    Kuomintang (KMT) presidential contender Hou Yu-ih criticizes the ruling Democratic Progressive Party’s (DPP’s) past claims about the Economic Cooperation Framework Agreement (ECFA) and cross-strait communication. He questions the DPP candidate’s analogy of "three links" and direct flights to a "Trojan horse leading to a massacre" and challenges the Agriculture Minister’s role in Chinese approvals for Taiwan’s grouper fish export. Hou argues that unresolved quarantine issues could harm Taiwanese farmers and suggests direct negotiations with China. He also criticizes Lai’s "Taiwan independence" stance, claiming it lacks practical understanding of cross-strait relations. If elected, Hou promises to continue ECFA negotiations to reduce China’s tariffs on Taiwan’s industries. He believes that adhering to the Constitution and the Act Governing Relations between Taiwan and China will maintain peace between the straits.
    2023/12/26 16:44
  • Taiwan’s petrochemical industry unfazed by ECFA termination

    The termination of the Economic Cooperation Framework Agreement (ECFA) has raised concerns about its impact on Taiwan’s petrochemical industry. However, corporate entities in Taiwan have stated that the impact has been limited. This is due to Taiwan’s efforts to reduce its dependency on China for exports, as China increases its domestic supply of petrochemical products. Taiwanese firms are expanding into other export markets and focusing on enhancing the competitiveness of their high-value products. The move is a response to China’s accusations of discriminatory bans and restrictive measures on Chinese products, which China’s Customs Tariff Commission of the State Council sees as violating the ECFA. The ECFA’s "Early Harvest List" included 88 tax reductions on Taiwan’s petrochemical industry by China. With the suspension of tariff privileges, these corporations anticipate that the tax rate on associated products could rise from the current 0% to between 2% and 10%.
    2023/12/22 18:10
  • China’s tariff move to hit Taiwan’s petrochemical exports

    The Customs Tariff Commission of China’s State Council has announced that starting from January 1 next year, it will suspend the application of preferential tariffs for 12 categories of chemically imported goods from Taiwan, including propylene and paraxylene. China claims that Taiwan violates ECFA regulations by imposing discriminatory trade measures for products exported from China, and a trade barrier investigation by China’s Ministry of Commerce confirmed these restrictions as a trade barrier. Taiwan’s Mainland Affairs Council (MAC) accuses China of political manipulation and bypassing WTO dispute mechanisms. The Ministry of Economic Affairs (MOEA) states that the export value of ECFA’s early harvest list to China has been decreasing, projected to retract to pre-ECFA levels by year-end. The MOEA proposes managing cross-strait economic disputes under the WTO mechanism and encourages China to do the same.
    2023/12/21 21:42
  • 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
  • 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
  • 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
  • Tsai Ing-wen eyes teaching role after presidency ends

    President Tsai Ing-wen discusses her post-presidency plans, hinting at a possible teaching role after her term ends. Reflecting on her tenure, she acknowledges the challenges faced by Taiwan but highlights the stable growth and economic achievements during her governance. President Tsai expresses gratitude to her supporters and hopes for her successor to lead Taiwan to greater heights. Emphasizing the importance of presidential capability and political transformation, she commends the Democratic Progressive Party candidates for their steadfast execution of the "Tsai Ing-wen route." President Tsai emphasizes the need for future leaders who are internationally trusted, capable of upholding peace and stability in the Taiwan Strait, and maintaining global cooperation and trust.
    2023/12/18 17:14
  • 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
  • Taiwan’s NYMCU joins forces with ACC for climate club

    National Yang Ming Chiao Tung University (NYMCU) has partnered with the American Climate Club (ACC) to establish the American Taiwan Climate Club. This collaboration aims to contribute to the global net-zero carbon emissions target by 2050. The two institutions have signed a memorandum of understanding (MOU) to develop international carbon standards and propose a white paper on environmental, social, and governance (ESG) policies. NYMCU is committed to raising global citizens with sustainability awareness and plans to integrate the 17 Sustainable Development Goals into its academics and research. The partnership also has the potential to pave the way for Taiwan’s engagement in international carbon trading and promote green economic growth. The American Climate Club, registered in Texas, collaborates with government agencies, carbon reduction technology firms, carbon quality monitoring, carbon asset services, and climate and carbon finance funds. The newly formed American Taiwan Climate Club will focus on climate education, international cooperation, carbon project investment, carbon advisory services, and policy research to strengthen climate protection efforts.
    2023/12/12 19:47
  • 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
  • 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
  • MOEA head to discuss TSMC Kumamoto fab launch date

    Taiwan’s Minister of Economic Affairs, Wang Mei-hua, has confirmed that discussions will soon take place with Taiwan Semiconductor Manufacturing Company (TSMC) regarding the inauguration date for its Kumamoto fab. The progress of TSMC’s Kumamoto fab is said to be outpacing other global expansion efforts. Wang expressed gratitude for the support provided by Japan’s central and local government authorities in establishing the plant. Equipment installation is already underway at TSMC’s Kumamoto site, with trial production set to begin in April 2024. The opening ceremony may be scheduled as early as February 24. Wang emphasized the importance of reinforcing cooperation between Taiwan and Japan, particularly in the semiconductor supply chain, and encouraged mutual investment to foster closer bilateral relations.
    2023/12/11 21:35
  • Premier Chen uges green shift in Taiwan’s building sector

    Premier Chen Chien-jen of Taiwan’s Executive Yuan emphasized the critical role of building materials in the country’s transition towards a net-zero future. Speaking at the opening ceremony of the TaiPei Building Show, Premier Chen highlighted the event’s significance in boosting the international visibility of Taiwan’s building materials industry. This emphasis aligns with the National Development Council’s announcement of Taiwan’s 2050 net-zero emissions pathway, which outlines a strategy encompassing energy, industry lifestyle, and society. Premier Chen stressed the importance of developing industrially competitive, sustainable, and resilient business processes that could reduce emissions and promote circular usage. With Taiwan working towards meeting its climate commitments, the Premier expressed optimism about the collective industry effort to drive a green transition and support the country’s economic expansion.
    2023/12/07 20:54
  • NDC Minister eyes swift ECA with Australia for energy ties

    Taiwan’s National Development Council Minister, Kung Ming-hsin, expressed the hope for Taiwan to swiftly sign an Economic Cooperation Agreement (ECA) with Australia. In his speech, he emphasized the potential for collaboration in the hydrogen energy sector to boost industrial development between the two countries. Kung, on behalf of Taiwan’s government, accepted the official release of the 2023 White Paper by the Australia New Zealand Chamber of Commerce (ANZCHAM). He highlighted the record high trade of US$34.08 billion among Taiwan, New Zealand, and Australia last year. Kung also emphasized Australia’s crucial role as a major supplier of energy and agricultural products for Taiwan, emphasizing the complementarity between their economic industries. He mentioned Taiwan’s involvement in offshore wind financing operations with the Macquarie Group and its target of 10% of its energy mix coming from hydrogen, particularly green hydrogen, illustrating the potential for energy cooperation with New Zealand and Australia.
    2023/12/07 20:42
  • Ko Wen-je rues failed KMT alliance, cites betrayal

    Taiwan People’s Party (TPP) presidential candidate Ko Wen-je expressed disappointment in the failure to establish an alliance with the Kuomintang (KMT), citing his medical background and trust in others as a disadvantage in politics. He believes that the mishandling of the breakup with the KMT has led to his declining support. Despite the acrimony, Ko hinted at potential future cooperation with Foxconn’s founder Terry Gou, acknowledging their maintained contact for policy collaboration. Ko praised Gou’s think tank on finance and economics for its excellent work, revealing that his team has consulted and adopted numerous economic policy suggestions from Gou’s proposals. The focus at this stage is on policy partnership, with paths toward collaborative governance remaining open between the two camps.
    2023/12/07 16:58
  • Kaohsiung Mayor Chen Chi-mai stresses election stability

    Kaohsiung Mayor Chen Chi-mai expresses confidence in the stability of the legislative and presidential election outlook for Kaohsiung, as it aligns with initial expectations. He emphasizes the need for cooperation between central and local governments and the legislature to promote infrastructure and urban economic development in the southern industrial city. Chen calls on candidates to build trust among voters by presenting positive visions and policies, particularly focusing on providing opportunities for newcomers to engage with the public. Democratic Progressive Party candidates are expected to propose policies for Kaohsiung’s development and Taiwan’s stability to gain public support. Chen highlights the importance of humility and self-reflection for political parties, urging them to acknowledge shortcomings and continue their efforts in areas of success.
    2023/12/07 16:27
  • Taiwan eyes lead in global ICT, semiconductor markets

    Taiwan aims to leverage its information and communication technology (ICT) and semiconductor industries to gain a competitive advantage in international markets. The Ministry of Economic Affairs Minister, Wang Mei-hua, witnessed the signing of a memorandum of understanding between the Taiwan Association of Information and Communication Standards (TAICS) and the 5G Alliance for Connected Industries and Automation (5G-ACIA), signaling a new era of cooperation. With the global smart manufacturing market projected to reach US$140 billion by 2030, Wang believes Taiwan is well-positioned to integrate 5G into smart factories due to its existing experience and infrastructure. Taiwan aims to align its 5G application standards with global benchmarks and contribute its knowledge to international organizations. The Ministry of Economic Affairs is supporting the Industrial Technology Research Institute (ITRI) in developing new technologies and collaborating with Taiwanese companies to establish a voice within the global 5G community through 5G-ACIA. This strategic partnership is expected to position Taiwan as a leader in next-generation industrial technology and solidify its role in the information and communication technology sector on the global stage.
    2023/12/06 20:44
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