aiwan is ready to become an Asia Pacific capital-raising hub, as the nation is speeding up its financial reform for internationalization, Minister of Finance Lin Chuan (林全) said yesterday in Phuket.
Lin made the remark at a meeting for the 10th APEC finance ministers' conference.
With a high saving rate and an ample supple of market capital, several international financial institutions have raised funds in Taiwan, Lin said at the two-day APEC meeting.
On Wednesday, Lin reached an agreement with Singapore's second finance minister on cooperation between the two countries in finance service inspection.
After the three-hour talk over dinner Wednesday evening, Lin said they had also reached agreement on exchanges of visits by banking professionals and personnel of the two countries.
Lin added that the two failed to reach any agreement regarding online stock market cooperation.
The two sides also exchanged views on and experiences in capital market management, while the Taiwan side sought to learn more about Singapore's experience in signing a free trade agreement with the US, Lin said.
The APEC conference, whose theme is "a new APEC financial cooperation," centering on the issues of "grass-roots and SME [small and medium enterprises]development," "regional bond market development," and "the fiscal and financial aspects for regional trade agreements."
In addition to taking part in the ministerial meeting, Lin is also expected to hold bilateral talks with his counterparts from seven APEC members before tomorrow to seek closer ties with those countries.
He, however, declined to name which ministers he will meet.
Members of Lin's entourage include William Tseng (
The finance ministers meeting -- which ends today -- is one of a series of APEC events which will culminate in the 11th APEC Leaders Meeting in Bangkok on Oct. 20 and Oct. 21.
Taiwan’s technology protection rules prohibits Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) from producing 2-nanometer chips abroad, so the company must keep its most cutting-edge technology at home, Minister of Economic Affairs J.W. Kuo (郭智輝) said yesterday. Kuo made the remarks in response to concerns that TSMC might be forced to produce advanced 2-nanometer chips at its fabs in Arizona ahead of schedule after former US president Donald Trump was re-elected as the next US president on Tuesday. “Since Taiwan has related regulations to protect its own technologies, TSMC cannot produce 2-nanometer chips overseas currently,” Kuo said at a meeting of the legislature’s
TECH WAR CONTINUES: The suspension of TSMC AI chips and GPUs would be a heavy blow to China’s chip designers and would affect its competitive edge Taiwan Semiconductor Manufacturing Co (TSMC, 台積電), the world’s biggest contract chipmaker, is reportedly to halt supply of artificial intelligence (AI) chips and graphics processing units (GPUs) made on 7-nanometer or more advanced process technologies from next week in order to comply with US Department of Commerce rules. TSMC has sent e-mails to its Chinese AI customers, informing them about the suspension starting on Monday, Chinese online news outlet Ijiwei.com (愛集微) reported yesterday. The US Department of Commerce has not formally unveiled further semiconductor measures against China yet. “TSMC does not comment on market rumors. TSMC is a law-abiding company and we are
FLEXIBLE: Taiwan can develop its own ground station equipment, and has highly competitive manufacturers and suppliers with diversified production, the MOEA said The Ministry of Economic Affairs (MOEA) yesterday disputed reports that suppliers to US-based Space Exploration Technologies Corp (SpaceX) had been asked to move production out of Taiwan. Reuters had reported on Tuesday last week that Elon Musk-owned SpaceX had asked their manufacturers to produce outside of Taiwan given geopolitical risks and that at least one Taiwanese supplier had been pushed to relocate production to Vietnam. SpaceX’s requests place a renewed focus on the contentious relationship Musk has had with Taiwan, especially after he said last year that Taiwan is an “integral part” of China, sparking sharp criticism from Taiwanese authorities. The ministry said
US President Joe Biden’s administration is racing to complete CHIPS and Science Act agreements with companies such as Intel Corp and Samsung Electronics Co, aiming to shore up one of its signature initiatives before US president-elect Donald Trump enters the White House. The US Department of Commerce has allocated more than 90 percent of the US$39 billion in grants under the act, a landmark law enacted in 2022 designed to rebuild the domestic chip industry. However, the agency has only announced one binding agreement so far. The next two months would prove critical for more than 20 companies still in the process
RSS