HSBC Taiwan yesterday (9th) announced a donation of US$300,000 to the Mennonite Social Welfare Foundation and World Vision Taiwan, aiming to support the mid-to-long-term recovery plans in the Hualien area of Taiwan recently affected by severe earthquakes and aftershocks by working with these two organizations. The goal is to help the affected residents overcome their trauma and return to their normal lives as soon as possible.
HSBC Bank (Taiwan) CEO Adam Chen stated, “The Hualien area has recently suffered from major earthquakes. Following the emergency rescue and short-term repairs, it’s now entering in the phase of mid-to-long-term post-disaster reconstruction and support for the affected households. HSBC is committed to the Taiwan market and the community we serve. Through our donation, we aim to support the relief actions in the Hualien area, including building resilience and emergency responding capabilities of local residents, as well as providing mental health care for vulnerable groups, i.e. children, the elderly, etc., all of which are our major focuses.”
To support the mid-to-long-term reconstruction efforts in Hualien, HSBC’s donation will be used not only for immediate relief efforts such as earthquake kits, assistive devices, and emergency funds but also for disaster preparedness school curriculum, community disaster prevention and reduction education courses, and fostering disaster prevention actions. The purpose is to promote the concept of “disaster prevention”, further enhancing the psychological resilience of the affected communities and developing skills for households in managing disaster risks, and to establish a safe and healthy lifestyle. This donation is expected to directly or indirectly benefit over 9,000 individuals.
Photo: provided by HSBC Taiwan
Having cultivated its presence in Taiwan for 40 years, HSBC adheres to its group’s values in promoting ethical and sustainable business practices. This is part of the Bank’s long-term approach to manage economic, social and environmental issues that are within its ability to influence. In line with HSBC Group’s focus on giving back to the community through philanthropic donations, disaster-relief programmes, and volunteering activities, HSBC continues supporting charitable donation projects in Taiwan relevant to environment and education areas. Periodic review during execution of these projects also helps HSBC track how these projects bring positive impact to the society.
In 2020, HSBC also partnered with World Vision Taiwan and the Mennonite Social Welfare Foundation, donating NT$3 million to support the COVID-19 pandemic relief scheme by distributing health packs, living supplies, and emergency relief funds to vulnerable individuals in need. This donation resulted in the distribution of more than 5,000 pandemic supplies and provided emergency medical assistance to 250 disadvantaged families.
Photo: provided by World Vision Taiwan
Photo: provided by Mennonite Social Welfare Foundation
Nvidia Corp CEO Jensen Huang (黃仁勳) is expected to miss the inauguration of US president-elect Donald Trump on Monday, bucking a trend among high-profile US technology leaders. Huang is visiting East Asia this week, as he typically does around the time of the Lunar New Year, a person familiar with the situation said. He has never previously attended a US presidential inauguration, said the person, who asked not to be identified, because the plans have not been announced. That makes Nvidia an exception among the most valuable technology companies, most of which are sending cofounders or CEOs to the event. That includes
TARIFF TRADE-OFF: Machinery exports to China dropped after Beijing ended its tariff reductions in June, while potential new tariffs fueled ‘front-loaded’ orders to the US The nation’s machinery exports to the US amounted to US$7.19 billion last year, surpassing the US$6.86 billion to China to become the largest export destination for the local machinery industry, the Taiwan Association of Machinery Industry (TAMI, 台灣機械公會) said in a report on Jan. 10. It came as some manufacturers brought forward or “front-loaded” US-bound shipments as required by customers ahead of potential tariffs imposed by the new US administration, the association said. During his campaign, US president-elect Donald Trump threatened tariffs of as high as 60 percent on Chinese goods and 10 percent to 20 percent on imports from other countries.
Taiwanese manufacturers have a chance to play a key role in the humanoid robot supply chain, Tongtai Machine and Tool Co (東台精機) chairman Yen Jui-hsiung (嚴瑞雄) said yesterday. That is because Taiwanese companies are capable of making key parts needed for humanoid robots to move, such as harmonic drives and planetary gearboxes, Yen said. This ability to produce these key elements could help Taiwanese manufacturers “become part of the US supply chain,” he added. Yen made the remarks a day after Nvidia Corp cofounder and chief executive officer Jensen Huang (黃仁勳) said his company and Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) are jointly
MARKET SHIFTS: Exports to the US soared more than 120 percent to almost one quarter, while ASEAN has steadily increased to 18.5 percent on rising tech sales The proportion of Taiwan’s exports directed to China, including Hong Kong, declined by more than 12 percentage points last year compared with its peak in 2020, the Ministry of Finance said on Thursday last week. The decrease reflects the ongoing restructuring of global supply chains, driven by escalating trade tensions between Beijing and Washington. Data compiled by the ministry showed China and Hong Kong accounted for 31.7 percent of Taiwan’s total outbound sales last year, a drop of 12.2 percentage points from a high of 43.9 percent in 2020. In addition to increasing trade conflicts between China and the US, the ministry said
RSS