The Executive Yuan yesterday proposed eight policies, dubbed the “Strengthen Taiwan Policies,” to counter the effects of 31 incentives for Taiwanese unveiled by China’s Taiwan Affairs Office.
The eight policies aim to increase benefits for researchers; lend more momentum to innovative industries; boost employee rewards and benefits; improve the work environment of medical professionals; enhance protection against corporate espionage; ramp up industrial innovation and transformation; boost the momentum of Taiwanese stocks; and deepen investment in the development of the film industry, Vice Premier Shih Jun-ji (施俊吉) told a news conference at the Executive Yuan.
The policies are to be geared toward four main goals: encouraging quality education and corporate jobs while intensifying efforts to keep talented individuals, as well as recruiting from abroad; maintaining Taiwan’s advantage in the global supply chain; promoting the expansion of the capital market; and strengthening the cultural and film industries, he said.
Photo: Peter Lo, Taipei Times.
Taiwan will become a top nation that will be attractive to talented individuals worldwide, will have a healthy economy and become strong, all based on liberty, democracy and the rule of law, he added.
China’s policies are aimed at siphoning off Taiwan’s capital and locally educated talent, which shows an evident political motive, Shih said, adding that the government must handle this issue practically and seriously.
“With a strong Taiwan, we will fear no challenge,” Shih said.
At least 15 items of the eight policies are to be implemented by the Cabinet and its various agencies this year.
To improve local stocks’ global visibility, the Cabinet said it would increase reviews for initial public offerings and cut down the review time from eight weeks to six.
Overseas subsidiaries of listed local companies would be encouraged to base themselves and list in Taiwan, the Cabinet said, adding that it would also promote the inclusion of 30 companies in an MSCI index to attract more international investment.
Measures to prevent corporate secrets from being leaked to China would include amendments to the Trade Secrets Act (營業秘密法) to establish a “retention of corporate secrets” system and punishments for related criminal activity for breaking such laws, it added.
To accelerate industrial innovation and transformation, the Cabinet said it would subsidize corporations’ purchases of “smart” machinery and software that would help them maintain a competitive edge.
It added that it would provide assistance to facilitate strategic alliances between Taiwanese industries and international corporations to further bolster the nation’s edge in the global supply chain.
Separately yesterday, Premier William Lai (賴清德) said the Cabinet would refer to China’s new policies — which Beijing has termed “incentives for Taiwan” — as simply “measures” to avoid playing along with China’s rhetoric.
As long as Taiwanese can demonstrate solidarity and bolster the nation’s economy on the foundation they have built, the nation will attract more talent and increase its global presence, Lai said.
Additional reporting by Sean Lin and Chen Mei-ying
US President Donald Trump yesterday announced sweeping "reciprocal tariffs" on US trading partners, including a 32 percent tax on goods from Taiwan that is set to take effect on Wednesday. At a Rose Garden event, Trump declared a 10 percent baseline tax on imports from all countries, with the White House saying it would take effect on Saturday. Countries with larger trade surpluses with the US would face higher duties beginning on Wednesday, including Taiwan (32 percent), China (34 percent), Japan (24 percent), South Korea (25 percent), Vietnam (46 percent) and Thailand (36 percent). Canada and Mexico, the two largest US trading
AIR SUPPORT: The Ministry of National Defense thanked the US for the delivery, adding that it was an indicator of the White House’s commitment to the Taiwan Relations Act Deputy Minister of National Defense Po Horng-huei (柏鴻輝) and Representative to the US Alexander Yui on Friday attended a delivery ceremony for the first of Taiwan’s long-awaited 66 F-16C/D Block 70 jets at a Lockheed Martin Corp factory in Greenville, South Carolina. “We are so proud to be the global home of the F-16 and to support Taiwan’s air defense capabilities,” US Representative William Timmons wrote on X, alongside a photograph of Taiwanese and US officials at the event. The F-16C/D Block 70 jets Taiwan ordered have the same capabilities as aircraft that had been upgraded to F-16Vs. The batch of Lockheed Martin
GRIDLOCK: The National Fire Agency’s Special Search and Rescue team is on standby to travel to the countries to help out with the rescue effort A powerful earthquake rocked Myanmar and neighboring Thailand yesterday, killing at least three people in Bangkok and burying dozens when a high-rise building under construction collapsed. Footage shared on social media from Myanmar’s second-largest city showed widespread destruction, raising fears that many were trapped under the rubble or killed. The magnitude 7.7 earthquake, with an epicenter near Mandalay in Myanmar, struck at midday and was followed by a strong magnitude 6.4 aftershock. The extent of death, injury and destruction — especially in Myanmar, which is embroiled in a civil war and where information is tightly controlled at the best of times —
China's military today said it began joint army, navy and rocket force exercises around Taiwan to "serve as a stern warning and powerful deterrent against Taiwanese independence," calling President William Lai (賴清德) a "parasite." The exercises come after Lai called Beijing a "foreign hostile force" last month. More than 10 Chinese military ships approached close to Taiwan's 24 nautical mile (44.4km) contiguous zone this morning and Taiwan sent its own warships to respond, two senior Taiwanese officials said. Taiwan has not yet detected any live fire by the Chinese military so far, one of the officials said. The drills took place after US Secretary
RSS