Business and Finance

Taiwan gave US$300m in overseas aid in 2016

Radio Taiwan International
Date: 2017-05-25

Taiwan gave US$300 million in official development assistance to other countries in 2016. That’s according to a foreign ministry official on Thursday. The figure is US$50 million higher than in 2015.

The foreign ministry said the overseas aid represented 0.06% of gross national income. That’s still far below the UN’s suggested target of 0.7%. But the ministry’s Lee Sing-ying said the government has a plan for Taiwan to catch up with the UN’s sustainable development goals for 2030.

Lee said, “Our overseas aid figure is seeing stable growth, we trust that Taiwan as a country that has received aid and is now giving assistance to allies and friendly countries, is doing its responsibility as a member of the international community, and the government will see we continue to do so.”    [FULL  STORY]

Uniform-invoice prize winning numbers for Mar and Apr, 2017 announced

Taiwan News
Date: 2017/05/25
By: George Liao, Taiwan News, Staff Writer

TAIPEI (Taiwan News) – The Ministry of Finance (MOF) announced on Thursday the

The NT$10 million uniform-invoice prize winning number for Mar and Apr is 74748874. Are you a lucky winner?

uniform-invoice prize winning numbers for Mar and Apr, 2017 on its website, with the NT$10 million winning number being74748874. Are you a lucky winner?

For the winning numbers, please visit the page of uniform-invoice winning numbers.

The winning numbers for the top three prize categories are 74748874 for the Special Prize (winning NT$10 million for matching all the digits); 82528918 for the Grand Prize (winning NT$2 million for matching all the digits); and 07836485, 13410946, and 96152286 for the First Prize (winning NT$200,000 for matching all the digits from any of the three numbers).    [FULL  STORY]

Bill to cut payments to ex-presidents passes initial screening

Focus Taiwan
Date: 2017/05/25
By: Wen Kui-hsiang and Lilian Wu

Taipei, May 25 (CNA) Courtesy payments to former Presidents and Vice Presidents will

(CNA file photo)

be reduced to NT$80,000 (US$2,656) per month according to a draft amendment that passed an initial screening at the Judiciary and Organic Laws and Statutes Committee Thursday.

According to the Act of Courtesy for Former Presidents and Vice Presidents, the nation provides funds for secretaries, drivers, an office and various activities, plus a courtesy payment after they step down from office.

Current monthly courtesy payments to former Presidents and Vice Presidents are NT$250,000 and NT$180,000 respectively.    [FULL  STORY]

TSMC to start trial of 5nm chips in 2019

ADVANCEMENTS:The world’s largest contract chipmaker plans to mass produce 7nm chips next year and 5nm chips in 2020 as it seeks to maintain its technological edge

Taipei Times
Date: May 26, 2017
By: Lisa Wang / Staff reporter, in Hsinchu

Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) yesterday announced plans to

Taiwan Semiconductor Manufacturing Co co-CEO C.C. Wei speaks at an annual technology symposium in Hsinchu yesterday. Photo: CNA

start trial production of 5-nanometer (nm) chips in the second quarter of 2019, as the world’s largest contract chipmaker sought to reassure clients of its role as a trusted technology and capacity partner.

The remarks by TSMC came after rival Samsung Electronics Co on Wednesday announced plans to spin off its foundry business to avoid conflicts of interest with customers.

“Our mission is to create technology and to provide capacity in catering to your needs. We can work together,” TSMC co-CEO C.C. Wei (魏哲家) said at an annual technology symposium in Hsinchu.

“We do not believe that any company that makes competing products can really cooperate with you,” Wei said, in a veiled reference to Samsung’s dual roles as a proprietary chip manufacturer and foundry service provider.    [FULL  STORY]

Tsai: Green energy a key industry for Taiwan

Radio Taiwan International
Date: 2017-05-24

President Tsai Ing-wen says the development of green energy and green technology is key to Taiwan’s energy policy. She was speaking Wednesday at a meeting of her Democratic Progressive Party’s Central Standing Committee.

According to party spokesperson Ruan Jhao-syong, Tsai believes Taiwan has good conditions for the development of the green energy tech industry.

“Taiwan has pretty good resources including our wind fields and the quality of our manufacturing. As long as we work hard, Taiwan has the potential to do well in this industry,” Ruan said.    [FULL  STORY]

Taiwan to levy duty on online purchases over NT$2,000

Taiwan to lower the bar for oversea online tariff from NT$3,000 to NT$2,000

Taiwan News
Date: 2017/05/24
By: Judy Lin, Taiwan News, Staff Writer

TAIPEI (Taiwan News)—Frequent online shoppers beware! Taiwan will roll out a

Show girls hired by online shopping platform Shoppee to promote its website.(By Central News Agency)

new tax policy starting this September that will lower the tariff bar for imported goods shipped via oversea express delivery to NT$2,000 (US$66.37).

At the moment imported products purchased online with a value below NT$3,000 are exempt from tariffs, but the government aims to lower tariff bar to NT$2,000 by September.

Taiwan currently does not require online buyers of imported goods to pay tariffs or value-added tax (VAT) , but charges buyers of online domestic goods 5 percent VAT which is unreasonable and unfair to domestic online businesses, said Deputy Minister of Finance Su Jain-rong (蘇建榮).    [FULL  STORY]

Developers pan FISC blockchain platform project

Taipei Times
Date: May 25, 2017
By: Ted Chen / Staff reporter

Blockchain developers have voiced concerns about the government’s intention to develop distributed ledger technology, due to its past opposition and dominant hold on existing infrastructure.

Financial Information Service Co (FISC, 財金公司), which oversees the nation’s banking payment and settlement systems controlled by the central bank, has announced that its new blockchain platform would go online in July.

FISC said that its blockchain platform would prioritize the facilitation of charitable donations; improve customer data verification, lending and fundraising; and enable consumers to accrue credit card reward points across different issuing banks.
[FULL  STORY]

Imported goods over NT$2,000 to be levied with customs duty

Focus Taiwan
Date: 2017/05/23
By: Bernie Chiu and Kuo Chung-han

Taipei, May 23 (CNA) The Ministry of Finance (MOF) will lower the duty-free threshold for

(CNA file photo)

goods imported via mail to NT$2,000 (US$66.29) from the current NT$3,000, probably starting from September, ministry officials said on Tuesday.

The MOF said the main reasons for the move are to provide a fair playing field for domestic online shopping companies to compete with their overseas rivals and to broaden the tax base.

The implementation date is not yet settled because rules on the clearance of imported and exported postal parcels need to be revised.

Meanwhile, people who frequently import goods via mail will be required to pay customs duty from July 1.    [FULL  STORY]

Gartner: worldwide sales of smartphones grew 9 percent in 1st quarter of 2017

Taiwan News
Date: 2017/05/23
By: George Liao, Taiwan News, Staff Writer

TAIPEI (Taiwan News)–Global sales of smartphones to end users increased 9.1 percent

Global sales of smartphones to end users increased 9.1 percent year on year in the first quarter of 2017, totaling 380 million units, according to Gartner, Inc.

year on year in the first quarter of 2017, totaling 380 million units, according to Gartner, Inc. Mobile phone buyers are spending more to get a better phone, resulting in the rise in average selling prices of types of phones.

The shift in buyer preference is positively affecting Chinese manufacturers such as Huawei, Oppo and Vivo in their strategy to build desirable features at affordable prices. Their combined market share in the first quarter of 2017 accounted for 24 percent, up 7 percentage points year on year.

“The top three Chinese smartphone manufacturers are driving sales with their competitively priced, high quality smartphones equipped with innovative features,” said Anshul Gupta, research director at Gartner. “Furthermore, aggressive marketing and sales promotion have further helped these brands to take share from other brands in markets such as India, Indonesia and Thailand.”    [FULL  STORY]

Industrial production posts contraction

BETTER AHEAD?A survey by the Ministry of Economic Affairs showed that growth is expected to pick up amid inventory buildups prior to new product launches

Taiei Times
Date: May 24, 2017
By: Lisa Wang / Staff reporter

Industrial production posted its first annual contraction in nine months last month as weaker-than-expected growth in the manufacturing sector failed to make up for a nosedive in electricity output, the Ministry of Economic Affairs said yesterday.

Industrial output last month fell 0.59 percent from a year earlier, dragged by a 30 percent annual decline in the electricity sector after Taiwan Power Corp (台電) shut down two nuclear reactors, the ministry said.

The results were disappointing, as the ministry had anticipated a 7 percent annual growth.

The manufacturing sector, a pillar of the nation’s industrial output, posted tepid growth in output of 0.79 percent year-on-year last month, marking the slowest pace in about a year, due to inventory correction, the ministry said.    [FULL  STORY]