Taiwan News Archive
2008
Taiwan Adds Short Selling Caps to Boost `Stability, Confidence'
bloomberg.com
September 30, 2008
By Janet Ong
Sept. 30 (Bloomberg) -- Taiwan's financial regulator said it placed temporary limits on short-selling of stock ``to maintain market stability and boost investors' confidence'' after U.S. shares plunged.
The limit on the sale of borrowed stocks and margin short sales will be cut to 10 percent a day of a company's listed shares from 25 percent, starting today until the end of this year, the Financial Supervisory Commission said in a statement late last night.
The cap on short sales by institutional investors will be reduced to 1 percent of a company's total listed shares, from 10 percent now, the regulator said.
The regulator on Sept. 21 placed a ban on the short-selling of 150 stocks for two weeks until Oct. 3, following similar moves by U.S., U.K. and Canadian regulators. Taiwan's Taiex index has slumped 30 percent this year, more than declines in equity markets in Japan, South Korea and Singapore. more ...
Two killed, scores injured by Jangmi
Taipei Times
September 30, 2008
BUSY DAYS: As the nation was beginning to clean up in the wake of the powerful storm, the Central Weather Bureau said that two other systems were forming at sea
By Shelley Shan and Meggie Lu
Typhoon Jangmi, which began battering Taiwan with strong winds and torrential rain on Sunday, had by noon yesterday killed two, injured 61 and left two missing, the Emergency Operations Center said. more ...
Milk crisis spreads to Taiwan
24.com - 24 News
26/09/2008 19:21 - (SA)
Taipei - Three Taiwanese toddlers and one woman have developed kidney stones after drinking tainted Chinese milk products, a hospital here said on Friday, in the island's first known cases.
All four victims had frequently visited China and the three children, all aged between two and three, drank Chinese milk formula, the National Yang-Ming University Hospital said.
"The hospital screened nine children who have been drinking milk suspected of containing melamine... and three are found to have kidney stones," it said in a statement, adding the mother of one of the children also has the condition.
News of the four victims emerged as the island's new health minister vowed to tighten controls on Chinese dairy products.
"We will use strict standards like the US and Europe to ensure food safety for the public," Yeh Ching-chuan told reporters.
Yeh, a public health expert best known for leading Taipei through the SARS crisis in 2003 as the capital's deputy mayor, took over as health minister after her predecessor Lin Fang-yue resigned on Thursday over the contaminated milk scandal. more ...
Taiwan cancels moon festival barbecues over climate
The Associated Press
Updated Sun. Sep. 7 2008 8:04 AM ET
TAIPEI -- Several local governments in Taiwan say they are cancelling traditional barbecues at the upcoming moon festival to help reduce greenhouse gas emissions.
Yang Hsiao-tung, spokesman for Taipei city government, said the capital will not host its traditional 10,000-person barbecue dinner at a riverside park during the festival next Sunday. more ...
Taiwanese temples offer 'souls mourning' for aborted babies
Annie Huang
THE ASSOCIATED PRESS
Published Saturday September 6th, 2008
TAIPEI, Taiwan - Thick incense smoke filled the gilded, elaborately carved temple. The 50-year-old woman knelt down and bowed before a table piled with plastic toys and baby bottles.
Clasping her hands in supplication, Lin Shu-wen uttered a short prayer for the two abortions she had more than 20 years ago. For, as it reads in Chinese on a small altar nearby, "the babies prevented by fate from ever being tied to their parents."
The retired history teacher is one of scores of women who came to Ching Shui Temple in Taipei over the last month to make similar prayers. With abortion becoming less taboo in Taiwan, several dozen Buddhist and Taoist temples offered a "baby souls mourning" service during ghost month, a time when Taiwanese honour wandering ghosts in the hope they will be placated and cease to haunt the living. more ...
Taiwan May Act to Boost Economy, Arrest Slump in Stock Market
By Yu-huay Sun
Bloomberg.com
Sept. 6 (Bloomberg) -- Taiwan's government may take steps to boost stock prices and consumer spending on the island, where the benchmark index slumped 10 percent in the past week on concern economic growth will slow.
Premier Liu Chao-shiuan will meet county commissioners next week to discuss measures to boost domestic demand, and the Cabinet will propose ``action plans'' to lift stocks in its weekly meeting on Sept. 11, Carolina Lin, a Government Information Office secretary, said by telephone today, declining to give details. more ...
Taiwan drops plan to develop missile that can hit China
The Earth Times
Author : DPA
Sun, 31 Aug 2008 21:52:59 GMT
Taipei - Taiwan has dropped plans to develop cruise missiles that can reach China, seen as the country's ongoing efforts to seek peace with China, a newspaper reported Monday. The United Daily News quoted an unnamed military official as saying that Taipei has dropped plans to develop cruise missiles that have a range of 1,000 kilometres.
Since Ma Ying-jeou from the China-friendly Chinese Nationalist Party took office on May 20, he has been promoting greater exchanges with China to ease cross-Strait tension.
Ma has declared that Taiwan wants to seek peace with China but must also strengthen its self-defence and must buy advanced weapons from the United States for the sake of national security.
The government made the decision to drop the longer-range missiles after the National Security Council and the Defence Ministry reached the consensus that Taiwan should focus on self-defence rather than develop attack weapons, the official said. more ...
Taiwan clears Games hurdle
Herald Sun
Rowan Callick | August 04, 2008 12:00am
ONE of the hottest and longest-running feuds in the lead-up to the Beijing Olympics has been resolved at the last minute, ensuring the participation of the Taiwan team.
The Taiwanese, who won five medals at the 2004 Athens Games, including their first gold for tae kwondo -- are likely to receive a rousing welcome at the opening ceremony on Friday.
Taiwan's previous government refused to participate as planned in the international torch relay because of the Chinese requirement that no Taiwan flag could be waved near the runners.
There was also a question mark over Taiwan's participation, until the weekend, over the traditional referral to the Olympic team as China Taipei.
Instead, it will be competing as Chinese Taipei.
This difference is crucial in the Chinese written language, used in both countries.
The formulation that was pressed by Beijing was Zhongguo Taipei. Zhong means centre, and the character "guo" means nation, and is enclosed by a surrounding square wall.
It is usually translated as China Taipei, and effectively defines Taiwan as a part of the People's Republic of China. more ...
Taiwan firm selected to overhaul troubled Ukraine stadium
YHIAH News Agency
[16.04.2008 11:02]
A Taiwanese construction company has won selection to overhaul Ukraine`s top football stadium in preparation for the 2012 European Championships, Korrespondent magazine reported Tuesday. According to DPA, Taipei-headquartered Archasia Design Group Ltd. will perform major repairs to Kiev`s troubled Olympisky Stadium, a structure whose reconstruction has been stalled for years due to a land ownership dispute in the Ukrainian capital.
The 94,000-seat stadium, built during the Soviet era and slowly falling apart, is the site of the scheduled final of Euro 2012.
Ukraine and Poland in April 2007 won rights to co-host the tournament.
Archasia Design defeated 14 competitors for the Olympisky Stadium repair contract, including bidders from Austria, China, England, Germany, and Ukraine. more ...
Taiwanese Economic Plan Gets Boost From China
By Edward Cody
Washington Post Foreign Service
Wednesday, April 16, 2008; 10:45 AM
BEIJING, April 16 -- Contributing to an increasingly upbeat climate, China expressed confidence Wednesday that an imminent change of leadership in Taiwan will swiftly lead to direct airline connections, increased tourism and more cross-strait investment.
The prediction, from the government's Taiwan Affairs Office, intensified anticipation of a broad lowering of tensions across the Taiwan Strait after President-elect Ma Ying-jeou takes over as leader of the self-ruled island from President Chen Shui-bian on May 20.
The Taiwan Affairs Office spokesman, Li Weiyi, told a news conference that Ma's suggestions for early talks on direct flights and easier tourist entry permits would receive favorable consideration in Beijing. "With hard work by both sides, I am sure this will very shortly be worked out," he added.
Li pointed to pledges of cooperation made by President Hu Jintao and Taiwan's Vice President-elect Vincent Siew when they met Saturday on the sidelines of an economic conference on China's Hainan Island. He said the encounter, although mostly symbolic, "had an extremely positive meaning" for the future of ties between Taiwan and the mainland.
But he stopped short of predicting an immediate resumption of the overall political, military and strategic talks put forward by Ma as his ultimate goal. "Everyone can make his own judgment about that," Li said when asked whether such talks could begin immediately after Ma's inauguration. more ...
Historic China-Taiwan talks held
BBC News
Saturday, 12 April 2008 13:39 UK
China's President Hu Jintao has held a historic meeting with Taiwan's Vice-President-elect, Vincent Siew. It was the highest-level contact between the two governments since their post-civil war split in 1949. The meeting, on the sidelines of a business conference on China's Hainan island, was short. But correspondents say it represented an important signal that both sides now want to improve relations, after several years of worsening ties. more ...
Taiwan's Ma: No plans to visit China
CNN News
updated 2:16 a.m. EDT, Sun March 23, 2008
TAIPEI, Taiwan (AP) -- Taiwan's president-elect said Sunday he had no immediate plans to visit China and would work to fulfill his campaign pledge to improve relations with the communist neighbor, starting direct flights, allowing more Chinese tourists to visit and helping the island's financial industry go to the mainland.
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Taiwan's president-elect Ma Ying-jeou and his wife celebrate his victory in Taipei on Saturday.
Ma Ying-jeou, a former Taipei mayor, trounced his ruling party rival, Frank Hsieh, in Saturday's vote after a long campaign that focused on relations with China. Ma was widely viewed to be favored by Beijing, which insists this self-ruled island of 23 million people is part of the mainland.
A sitting Taiwanese president hasn't set foot on the mainland since a bloody civil war split the two sides in 1949. Ma told reporters on Sunday that he had no plans to visit China in the near future.
"I think the most urgent job for us to do is to solve many of the urgent problems in terms of our relations with mainland China," said Ma of the Nationalist Party. "For instance, direct flights, to allow mainland tourists to come to Taiwan, to allow our financial services industry to go to the mainland."
Although thousands of Taiwanese companies have invested in China in recent years, the island still maintains a ban on direct shipping and air links across the 100-mile (160-kilometer-wide) Taiwan Strait. The government has also been cautious about relaxing restrictions on sensitive or strategic industries -- like finance and technology -- that want a bigger piece of China's booming market. more ...
Taiwan victor promises China ties
BBC News
Last Updated: Sunday, 23 March 2008, 01:01 GMT
Taiwan's newly-elected president has pledged to establish better economic and political ties with China.
Ma Ying-jeou said he would like to work towards a peace treaty with Beijing, but would only do so if China removed missiles pointed at Taiwan. He was speaking after a comfortable victory over Frank Hsieh of the ruling Democratic Progressive Party.
Official results gave Mr Ma an advantage of nearly 17 percentage points over Mr Hsieh. He polled 58.45%, with Mr Hsieh getting 41.55%, on a turnout of 76%. Mr Ma, of the Kuomintang party, had stood on a platform of economic reform and improving relations with China.
Speaking to reporters after the vote, he said that a peace treaty with China would not take priority over economic normalisation. I will make it crystal clear that Taiwan will be a stakeholder and will not rock the boat in the region.
"Certainly we would like to start preliminary contact with the mainland on how a peace treaty could be signed," he said. But, he added, "we already said very clearly if we are to negotiate a peace treaty they have to remove the missiles targeted against Taiwan."
Taiwan says China has about 1,000 missiles aimed at the island. more ...
Former US officials share report at forum in Taipei
Taipei Times
By Jenny W. Hsu
STAFF REPORTER
Tuesday, Feb 26, 2008, Page 4
Two former US government officials shared a report in Taipei yesterday on the state of the US-Taiwan relationship. The continual drift in the relationship will harm US interests in Asia, and the state of understanding of the Taiwan issue on Capitol Hill is not well placed in Taiwan's favor, they said.
Randall Schriver, the former deputy assistant secretary of state for East Asia and Pacific under the current Bush Administration, and Dan Blumenthal, who served as the senior director for China, Taiwan and Mongolia in the Secretary of Defense Office of International Affairs under George H.W. Bush, strongly advocated that a robust US-Taiwan relation is in Washington's best interest. more ...
Saxophones from Taiwan Aiming for the Pros
npr.com
February 25, 2008
By Lucy Craft
Morning Edition, February 25, 2008 - Taiwan has etched out a reputation as high-tech hardware store to the world. Its economy has boomed as companies churn out components for famous global electronics brands. But this country of 23 million has quietly garnered a chunk of the world market in a very different product: saxophones.
Virginia music store owner Kevin Landes plays a saxophone that dates back to 19th-century Paris. French saxophones are still the gold standard today. But the horn Landes is cooking on next wasn't made in France.
"You would never have thought of Taiwanese instruments trying to inch into the pro territory. But they are. And they are making some really nice horns."
They're making them at a gritty workshop in the town of Houli, in central Taiwan. Ten men and women huddle at their workbenches, silently adding hundreds of parts to perforated tubes of brass — the skeletons of alto saxophones.
Their progress is glacial. One worker dabs dots of glue to fingernail-sized pads of lambskin. Then he packs cushioning into round brass keys. Another worker attaches these keys to the tubes, positioning and then re-positioning them. A third worker thrusts a fluorescent light inside the brass tube, to scrutinize the handiwork. He depresses the keys and watches for telltale rays of light. If light escapes, the keys must be realigned.
While the work is slow and methodical, the owner of this company, Lien Cheng Saxophones, feels a sense of urgency. Chang Tsung Yao says, "Our quality is improving but if Taiwanese companies don't move quick, they will be left behind."
There are a dozen assembly lines — small, family operations like this one — throughout Houli. The town has a population of 50,000, but it produces about 40,000 saxophones a year. more ...
Citigroup Sees Double-Digit Net Profit Growth For Taiwan
CNNmoney.com
February 25, 2008: 01:04 AM EST
TAIPEI -(Dow Jones)- Citigroup Inc. (C) expects double-digit net profit growth at its Taiwan operations this year, Simon Chung, managing director and head of Citigroup's Taiwan Global Commercial Bank, said Monday.
Citigroup, the most profitable foreign bank in Taiwan, posted a record NT$ 13.26 billion pretax profit from its Taiwan operations in 2007, Chung said.
He said the top priority for Citigroup in Taiwan this year is to integrate Bank of Overseas Chinese, which it acquired in 2007. more ...
Retired US, Chinese officers hold informal talks on Taiwan, military exchanges
WSVN News
Sunday, February 24, 2008
BEIJING (AP) -- A hard-line Chinese general held weekend talks with the former vice chairman of the U.S. Joint Chiefs of Staff amid heightened tensions over Taiwan's plans to hold a referendum on joining the United Nations.
Gen. Xiong Guangkai -- considered a hawk on relations with Taiwan and the U.S. -- led the Chinese delegation in discussions with William Owens, a former submarine commander who was vice chairman of the U.S. Joint Chiefs of Staff in 1992-96, China's official Xinhua News Agency said.
Saturday's talks in southern China's Hainan province were part of efforts to build dialogue between top retired People's Liberation Army and U.S. military officers, the official Xinhua News Agency said.
The officers also discussed ways of boosting contacts between the two militaries -- widely seen as rivals for regional influence -- and other issues of common concern, Xinhua reported without giving further details.
The U.S. Embassy in Beijing said it had no information on the meeting because Owens is a private citizen.
more ...
New World Bank economist may be arrested for defecting from Taiwan
The Associated Press - Published: February 6, 2008
TAIPEI, Taiwan: A Chinese professor who was named the World Bank's chief economist this week may face arrest on charges of defecting from Taiwan's army 30 years ago if he visits his hometown, an official said Wednesday.
As an officer in Taiwan's army, Lin Yifu, 56, swam several kilometers (miles) from Taiwan-held Kinmen island to China's southern Fujian province in 1979. He wants to return to Taiwan soon to pay respects to his late parents, Taiwan's China Times quoted him as saying from Beijing.
Liu Teh-hsiun, vice chairman of Taiwan's Mainland Affairs Council that handles relations with China, said Taipei would not bar Lin from returning home.
But Yu Sy-tue, a Defense Ministry spokesman, said he could not rule out his arrest, adding that a military court would decide whether the statute of limitations on Lin's defection had already expired.
"There's no question that he is a deserter," Yu said. "We will cautiously study his case with agencies concerned." more ...
US state adopts three resolutions in support of Taiwan
Taipei Times - January 31, 2008
By Nadia Tsao
STAFF REPORTER IN WASHINGTON, WITH CNA
Thursday, Jan 31, 2008, Page 3
The Indiana State Senate on Monday unanimously adopted resolutions in support of Taiwan's bid to join the UN, the WHO and to sign a free trade agreement with the US.
The Indiana Senate resolutions stated that the UN bid should be supported as Taiwan is economically stable, has a mature democracy and a sound human rights record, and is eager to cooperate with the international community. Furthermore, Taiwan's entry into the WHO should likewise be supported, as it has actively participated and contributed in various technological exchanges within the organization, the resolutions said.
The senate also said that Taiwan and the US shared democratic principles and important economic partnerships. Thus the signing of a free trade agreement would boost both nations, and solidify US interests in Asia. more ...
Full steam ahead for Taiwan's world famous dumplings
Jabuary 25, 2008
TAIPEI (AFP) — When Yang Chi-hua was helping out at his father's restaurant as a teenager learning to make steamed dumplings, he never imagined that the family business would one day earn worldwide fame.
Yet today throngs of locals and foreign tourists alike queue outside Din Tai Fung's three-storey flagship store in Taipei to sample its specialty steamed dumplings or "xiao long bao" -- small white buns with juicy pork filling that are cooked and served in bamboo steamers.
The restaurant has also attracted foreign dignitaries and celebrities and last month Taiwan's foreign ministry enlisted Din Tai Fung in a gourmet food tour for tourists from France and England to help promote the island's image.
Yang, 52, said the success of Din Tai Fung lies in "committing ourselves to doing everything well, from preparing the food to serving the customers and maintaining the hygiene of the restaurant".
In an interview with AFP, he said: "It is an enormous pressure to live up to the expectations. We are constantly striving to make the restaurant better and not to let our patrons down." more ...
KMT shows humility, eyes 2nd win in presidential race
Sunday, January 13, 2008
The China Post news staff
TAIPEI, Taiwan -- While savoring the landslide victory in the parliamentary election yesterday, leaders of opposition Kuomintang (KMT) demonstrated modesty, caution and discretion in the face of the bigger challenge in the upcoming presidential election.
Voters in Taiwan gave the KMT 81 of the 113 seats in the Legislative Yuan, exactly three times number of the 27 seats garnered by the Democratic Progressive Party (DPP) led by President Chen Shui-bian, who announced immediate resignation as party chairman to take responsibility for the "worst setback" in his party's history.
The KMT and its smaller allies have secured 86 seats in the island's new parliament, KMT Chairman Wu Poh-hsiung told a press conference at party headquarters.
"We understand that you have put your faith in us, but our joy should last for only one night," Wu said with other party leaders at his side, including KMT presidential candidate Ma Ying-jeou. more ...
Taiwan's leader sets off for Guatemala, St. Lucia
Associated Press
Sunday, January 13, 2008
TAIPEI, Taiwan -- Taiwanese President Chen Shui-bian departed for Latin America on Sunday in an effort to fend off China's attempts to lure away the self-governed island's diplomatic allies.
Chen will attend the inauguration of Guatemalan President-elect Alvaro Colom before visiting St. Lucia. He will make a transit through Anchorage in the United States, aides said.
"China did not show signs of easing its military threat, diplomatic suppression and economic warfare against Taiwan over the past one or two years, but has instead stepped up those efforts," Chen said before boarding a chartered flight. more ...
Taiwan president says opposition win could see island join China
AFX News Limited
01.07.08, 4:19 AM ET
TAIPEI (Thomson Financial) - Taiwan President Chen Shui-bian on Monday warned that the island could be reunited with China 'anytime soon' if the opposition Kuomintang win weekend parliamentary elections.
'If the Kuomintang won, then reunification with China could be realized anytime soon,' Chen, chairman of the ruling Democratic Progressive (nyse: PGR - news - people ) Party (DPP), told reporters after a meeting with party heavyweights on the prospects for Saturday's polls.
'Should that happen, Taiwan could become another Hong Kong or Macau,' Chen said in a hoarse voice following weeks of campaigning. more ...
U.S. provides surprising boost to Taiwan exports
Reuters - Monday January 7 2008
By Lee Chyen Yee
TAIPEI, Jan 7 (Reuters) - Taiwan's December exports rose from a year earlier at their strongest pace since mid 2006, boosted by surprisingly strong demand from the United States for steel, electrical products and information technology.
Finance Ministry data on Monday showed hefty exports growth to China, and Southeast Asia as well, but more modest growth to Europe, defying broad expectations that exports from Asia will stumble in the face of a U.S. economic downturn.
Taiwan's export growth of 19.8 percent was almost double the rise predicted by analysts. Still, they insist that the pace of demand will moderate as a U.S. housing slump and credit crunch eat into spending by the world's biggest economy.
"These are huge numbers," Tony Phoo, an economist at Standard Chartered, said. "Our view is for slower export growth going forward."
"It should hit single-digits as early as the second quarter of this year. Trade will still be an important factor for Taiwan. We're still positive on China, but no one's sure how China is likely to perform," he said. more ...
China blocks public access to Taiwan's blog portal sites
China Post - Saturday, January 5, 2008
CNA
TAIPEI, Taiwan -- The Chinese government has barred its citizens from accessing Taiwan-based blog portal sites since the second half of last year, executives for local blog portal sites said yesterday.
Beginning last November, Beijing has begun to block access to the portal Pixnet and blog sites of Yahoo, Yam, and other major portals, said Ryan Lee, managing director of Pixnet Digital Media Corp.
Many of the bloggers on Pixnet believe that Beijing's move is closely related to Taiwan's March 22 presidential elections in which Taiwan's ties with China is a hot topic of debate, Lee noted.
China imposes a stringent control on certain phrases in the media, including Taiwan independence. more ...
Taiwan's president promises peaceful transition of power
Posted : Sat, 05 Jan 2008 19:11:06 GMT
Author : DPA
Asia World News
Taipei - Taiwan President Chen Shui-bian on Saturday promised he will ensure a peaceful transition of power when he steps down on March 20. "You can be hundred per cent sure about peaceful transition of power on May 20. Some people said I will try to prolong my term by imposing the martial law. I won't do that," Chen said in an interview with Sanli TV on Saturday evening.
Chen said that in a democratic nation, the president has fixed terms and cannot stay in power forever like ancient Chinese emperors.
"I will not let history repeat itself. As I myself was a victim of martial law, I cannot prolong my term by launching martial law," he said.
"I promise that on May 20, I will hand over power to the new leader. In the two months from the new president is elected till his inauguration, I hope to brief him on all the state affairs and experience in running the nation," he added. more ...
KMT may reject right to hold future polls, President Chen warns
DPP urges voters to uphold democracy, protect Taiwan
By Dennis Engbarth
Taiwan News, Staff Reporter
Page 2
2008-01-03 01:03 AM
President Chen Shui-bian (陳水扁) warned yesterday that the decision by the former ruling Kuomintang Monday to boycott two referendums in the coming January 12 Legislative polls showed that "tomorrow the KMT could refuse the Taiwan's people right to hold elections."
Chen issued the warning in his concurrent capacity as governing Democratic Progressive Party chairman during the weekly meeting of the DPP Central Standing Committee in the wake of Monday's decision by the right-wing opposition KMT to call on Taiwan voters to refuse to collect referendum ballots under the banner of "No To Any Referendum!"
The KMT's planned boycott would include both the DPP-sponsored plebiscite on the recovery of KMT "ill-gotten party assets" and an "anti-corruption" referendum, for which the KMT collected 1.3 million signatures.
Chen declared that the opposition party's reversal "has again exposed the KMT's essence of 'opposing democracy, playing false with democracy, protecting its party assets and opposing Taiwan's entry into the United Nations" and called on the electorate to realize that "referendum is our common right" and appealed to voters to "not say 'no' to democracy."
The DPP chairman said that the KMT's position "against democracy and against referenda" was "following the same ruts as China's opposition to Taiwan holding referenda 'in any form or on any topic" and said that the KMT's decision to "sing the same tune as China" constituted "the greatest regret and worry for Taiwan's democratic consolidation and deepening." more ...