Business and Finance

China-based firms return record funds

HOMEWARD BOUND: The amount of earnings repatriated from investors in China reached 17.73 percent of their accumulated investments in the nation, a record high

Taipei Times
Date: Sep 13, 2018
By: Staff writer, with CNA

Taiwanese investors in China repatriated more earnings ahead of Beijing’s implementation of the Common Reporting Standard (CRS), Financial Supervisory Commission (FSC) data showed.

The combined earnings repatriated by listed companies on the local main board and the Taipei Exchange (TPE) totaled NT$4.23 trillion (US$137.2 billion), or 17.73 percent of their accumulated investments in China, valued at NT$2.38 trillion as of June, a record high.

Investors in electronics components and rubber-related products repatriated the most funds, the commission said.

The ratio was higher than last year’s 16.9 percent, when listed companies repatriated NT$3.9 trillion, compared with accumulated investment of NT$2.32 trillion, the data showed.    [FULL  STORY]

Everything You Need to Know About Taiwan’s Employment Gold Card

Essential information on Taiwan’s Employment Gold Card and freelance artist visa.

The News Lens
Date: 2018/09/11
By: Taiwan EZ PERMIT Centre

Credit: Depositphotos

This article was provided courtesy of Crossroads, a multilingual nerve center of activity among the foreign, local, business, and governmental communities of Taiwan. You can read the original here.

The Employment Gold Card
What is an Employment Gold Card? How is it different from the Employment PASS Card?

1. The Employment Gold Card is based on Article 8 of the Act for the Recruitment and Employment of Foreign Professionals. It is an open-end work permit issued to employment-seeking individuals whose qualifications are reviewed and designated by the central competent authorities as a Foreign Special Professional.

The term “foreign special professional” refers to a foreign professional who engages in professional work in Taiwan and holds special expertise in Science & Technology, Economy, Education, Culture, Arts, Sports, or other fields* as announced by the central competent authority. The “professional work” mentioned above refers to work set forth in Subparagraphs 1 to 6 of Paragraph 1, Article 46 of the Employment Services Act, or that requiring specialized knowledge or skills approved by the central competent authority in consultation with the Ministry of Education for teachers of non-academic classes in a short-term tutorial school registered in accordance with the Supplementary Education Act.    [FULL  STORY]

Polish Investment and Trade Agency opens new Taipei Office

Poland continues push for greater economic cooperation with Taiwan

Taiwan News 
Date: 2018/09/11
By: Scott Morgan, Taiwan News, Staff Writer

Polish Investment and Trade Agency’s new Taipei office. (By Taiwan News)

TAIPEI (Taiwan News) – The Taipei Office of the Polish Investment and Trade Agency (PITA) officially opened on Sept. 11, as the Polish government strives to foster greater economic ties with both Taiwan and the world.

The Taipei Office will help Polish exporters and investors find and carry out new business opportunities in Taiwan, and also help Taiwanese exporters and investors do the same in Poland.

PITA is a government organization in a hurry, and has set up dozens of trade offices in recent years. Poland is looking abroad for economic partners to further its economic development.

Recent months have seen increased cooperation between Poland and Taiwan, after business-to-business talks were held between Polish and Taiwanese firms in Warsaw in Oct. 2017.    [FULL  STORY]

Taiwan’s hiring outlook weakens in Q4

Focus Taiwan
Date: 2018/09/11
By: Chiu Po-sheng and Frances Huang

Taipei, Sept. 11 (CNA) Taiwan’s hiring outlook for the fourth quarter of this year weakened amid fears over escalating global trade tensions that could hurt demand and the pace of the world economic recovery, according to a survey released by U.S.-based advisory firm ManpowerGroup.

In addition, a decision made by the government to raise the minimum monthly wage by 5 percent and the minimum hourly wage by 7.14 percent from Jan. 1, also made employers here more cautious, the advisory firm said.

Citing the latest ManpowerGroup Employment Outlook Survey, which collected 1,039 valid questionnaires from employers in Taiwan, the advisory firm said the net hiring outlook stood at 21 percent in the October-December period, down 2 percentage points from a quarter earlier and from a year earlier.    [FULL  STORY]

Gogoro to make scooters for Yamaha

RIDE ON: The two companies expect to ink an agreement by the end of the year, with the first Gogoro-made scooters for Yamaha making their debut next summer

Taipei Times
Date: Sep 12, 2018
By: Lisa Wang  /  Staff reporter

Gogoro Inc (睿能創意) yesterday said it is close to wrapping up talks with Yamaha Motor Co to make electric scooters for the Japanese firm and to share its battery-swapping network in Taiwan.

The deal would inject new growth momentum into Gogoro, as the market for electric scooters heats up after Kwang Yang Motor Co (光陽工業), the nation’s largest supplier of gasoline-powered scooters, joined the fray last month by unveiling its first electric model.

The collaboration with Yamaha marks the first manufacturing contract clinched by Gogoro, which had been focused on promoting its own-brand electric scooters and battery-swapping network since its inception in 2011.

The contract should help the company expand its production volume, it said in a statement.    [FULL  STORY]

OPINION: Will the US-China Trade War Really Spur Taiwan’s Companies to Leave China?

The government is encouraging Taiwanese companies based in China to take the US-China trade war as their cue to relocate.

The News Lens
Date: 2018/09/10
By: Roy C. Lee

Credit: Reuters / TPG

Last month, Taiwan President Tsai Ing-wen (蔡英文) urged government agencies to facilitate Taiwanese business in China (Taishang) to relocate their investment in order to avoid fallout from the ongoing U.S.-China trade war.

Naturally, Tsai wishes that relocation to focus on countries that fall under the New Southbound Policy(NSP), her administration’s major foreign policy initiative that seeks to reduce Taiwan’s reliance on cross-Strait trade by deepening cultural and economic ties with 18 Southeast and South Asian countries.

Indeed, data this week from the Ministry of Economic Affairs (MoEA) suggests Taiwanese businesses are already turning their attention south, with companies in the textile, electronics and bicycle industries the most likely to relocate in the face of the brewing U.S.-China trade war.    [FULL  STORY]

StarLux Airlines flight operations center starts construction in northern Taiwan

The center is adjacent to Taiwan Taoyuan International Airport, and is expected to be completed in July of 2020

Taiwan News
Date: 2018/09/10
By: Sophia Yang, Taiwan News, Staff Reporter

The Chairman of StarLux Airlines Chang Kuo-wei, right, poses with Taoyuan Mayor Cheng Wen-tsan on a press event on Sept. 10, 2018.

TAIPEI (Taiwan News) – Following a deal from European plane manufacturer Airbus, the newly established Taiwanese carrier StarLux has started construction of its global flight operations center in Taoyuan, northern Taiwan.

The company held a construction commencement ceremony for its “Flight Operations Center” on Monday, Sept. 10.

The center is adjacent to the Taiwan Taoyuan International Airport, and is expected to be completed in July of 2020.

The Chairman of StarLux Airlines Chang Kuo-wei (張國煒), who was ousted as chairman of Eva Airways in a bitter family feud, said the center will provide a venue for top-quality and rigorous pilot trainings.     [FULL  STORY]

Taiwan’s average regular wages rise over 2% for eighth straight month

Focus Taiwan
Date: 2018/09/10
By: Pan Tzu-yu and Frances Huang

Taipei, Sept. 10 (CNA) The average regular wages in Taiwan rose 2.65 percent in July, marking the eighth consecutive month of an over 2 percent year-on-year increase at a time of an economic recovery, the Directorate General of Budget, Accounting and Statistics (DGBAS) said on Monday.

Citing data, the DGBAS said the average regular wages in Taiwan hit NT$40,933 (US$1,329) in July, up 2.65 percent from the NT$39,878 a year earlier.

That followed a 2.46 percent year-on-year increase in June.

Moreover, the regular wage growth was the highest-ever for July in nearly 19 years, the DGBAS said.    [FULL  STORY]

Hon Hai revenue sets August record

SUPPLY-CHAIN FEARS: The company’s shares dropped despite the favorable results after US President Donald Trump urged Apple to move its production bases home

Taipei Times
Date: Sep 11, 2018
By: Ted Chen  /  Staff reporter

Hon Hai Precision Industry Co (鴻海精密), a key assembler of Apple Inc’s iPhones, yesterday reported its highest monthly revenue for the month of August amid increased production of the devices in preparation for the US technology giant’s product launch tomorrow.

The world’s largest contract electronics maker reported that revenue last month rose 0.3 percent month-on-month and 25.3 percent annually to NT$396.79 billion (US$12.87 billion).

Total sales in the first eight months of this year rose 14.8 percent annually to NT$2.9 trillion, also a record, the company said.

Consumer electronics made up most of the revenue last month, followed by communications and computing products, it said.    [FULL  STORY]

Vegetable prices reach year high in northern Taiwan

Wet weather causes average wholesale price of vegetables to reach NT$45.3 per kg

Taiwan News
Date: 2018/09/09
By: Scott Morgan, Taiwan News, Staff Writer

(Image courtesy of Pxhere)

TAIPEI (Taiwan News) – Vegetable prices in Taipei reached the highest levels seen this year on Sept. 9, after last month’s wet weather restricted supply, reported CNA.

According to the Taipei Agricultural Products Marketing Co., the average wholesale price of vegetables was NT$42.3 (US$1.37) today, approximately 5 percent higher than yesterday.

Wet weather and flooding in late August resulted in over NT$560 million in agricultural losses across southern Taiwan, with the majority of losses occurring in Chiayi County.

The aftermath of the wet weather led to a steady increase in vegetable prices, with average wholesale prices breaking through the NT$40 per kilogram barrier on Aug. 25. On Aug. 28, the Executive Yuan held a meeting to plan how to stabilize vegetable prices, with the government pledging to support local farmers.    [FULL  STORY]