China Unionpay (中國銀聯) began bank card transaction services in Taiwan yesterday, allowing cardholders to withdraw cash from automatic teller machines (ATMs) nationwide with a maximum of 10,000 yuan (US$1,474) per day.
“The launch of the service will not only boost the consumption of Chinese tourists in Taiwan, but it will also promote local tourism,” Chao Yang-ching (趙揚清), chairwoman of the Financial Information Service Co (FISC), said during a service launch ceremony in Taipei.
Chao said that more than 16,100 ATMs out of about 25,600 in Taiwan can provide these transaction services, which are available at the nation’s most popular tourists attractions such as the National Palace Museum and Taipei 101.
“A process fee of around NT$32 will be charged per transaction,” she added.
The Bankers Association of the ROC (銀行公會) said that each China Unionpay cardholder can withdraw up to 10,000 yuan per day with a maximum of NT$20,000 per transaction, making things more convenient for Chinese tourists who are only allowed to bring in a certain amount of cash when entering the country.
Xu Luode (許羅德), chief executive officer and president of China Unionpay, told reporters on the sidelines of the ceremony that around 2.2 billion Unionpay bank cards are in circulation, generating a turnover of around 7.7 trillion yuan a year.
When asked when Taiwanese tourists will be able to withdraw cash from ATMs using Taiwanese bankcards in China, Xu said: “I think, in principle, it should be no problem, but technical problems need to be resolved first. Currently, there’s no timetable for it, but both sides intend to push for it.”
A total of 18 local banks participated in the project, including the Bank of Taiwan (臺灣銀行), Land Bank of Taiwan (土地銀行), Taiwan Cooperative Bank (合作金庫銀行), First Commercial Bank (第一商業銀行), Hua Nan Commercial Bank (華南商業銀行), Chang Hwa Commercial Bank (彰化商業銀行), Taipei Fubon Bank (台北富邦銀行) and Mega International Commercial Bank (兆豐國際商銀).
PATENTS: MediaTek Inc said it would not comment on ongoing legal cases, but does not expect the legal action by Huawei to affect its business operations Smartphone integrated chips designer MediaTek Inc (聯發科) on Friday said that a lawsuit filed by Chinese smartphone brand Huawei Technologies Co (華為) over alleged patent infringements would have little impact on its operations. In an announcement posted on the Taiwan Stock Exchange, MediaTek said that it would not comment on an ongoing legal case. However, the company said that Huawei’s legal action would have little impact on its operations. MediaTek’s statement came after China-based PRIP Research said on Thursday that Huawei filed a lawsuit with a Chinese district court claiming that MediaTek infringed on its patents. The infringement mentioned in the lawsuit likely involved
EXPECTATIONS: The firm, which is on track to outpace global foundry industry revenue growth, said it expects constrained advanced process capacity amid stronger AI demand Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) yesterday increased its projected revenue growth for this year to above 25 percent, as stronger-than-expected demand for premium smartphones and artificial intelligence (AI) devices are to drive greater utilization of cutting-edge 3-nanometer and 5-nanometer chips. In April TSMC estimated 21 to 24 percent annual growth. The firm’s revenue growth is on track to greatly outpace the global foundry industry, which is expected to rise about 10 percent this year. “Over the past three months, we have observed stronger AI and high-end smartphone demand from our customers, which is to boost the overall capacity utilization for our leading-edge
INVESTMENT: The company’s planned complex in Texas would be the first 12-inch silicon wafer fab built in the US in more than 20 years, a GlobalWafers official said GlobalWafers Co (環球晶圓), the world’s No. 3 silicon wafer supplier, yesterday said it secured up to US$400 million in direct funding from the US Department of Commerce under the CHIPS and Science Act for the construction of two new advanced fabs in the US. Its subsidiaries GlobalWafers America and MEMC LLC are to build a 12-inch silicon wafer fab in Sherman, Texas, and another one in Missouri to produce silicon-on-insulator (SOI) wafers used to make leading-edge chips. “With the support of the [US President Joe] Biden Administration, we are honored to be bringing to American shores the world’s most cutting-edge 12-inch semiconductor
Nikon Corp is fielding strong demand for its legacy chipmaking machines in China, which is mobilizing resources to build its own semiconductor supply chain. Inquiries for the Japanese precision maker’s lithography tools have surged in China, Nikon president Muneaki Tokunari said. The company is set to revamp a lithography machine geared for decades-old manufacturing processes. Its NSR-2205iL1, launching this summer, would serve the market for mature chip technology and Nikon expects to sell more than 10 units of the machine annually, said Tokunari, who is also chief operating officer and chief financial officer. New companies are sprouting up in China to make