Wed, May 19, 2004 - Page 11 News List

Business Briefs


■ Lin upbeat on economy

Vice Premier Lin Hsin-i (林信義) said yesterday that the nation's economic performance in the second quarter will be better than that in the first quarter. Addressing economic issues, Lin said that he was not worried about the economic recovery cycle but was afraid that some industries may have been too slow in upgrading. Lin noted that Taiwan's economic growth was 5.86 percent in 2000, and negative 2.18 percent in 2001. Economic growth rebounded to 3.59 percent in 2002 and 3.24 percent last year, showing re-newed competitiveness, he said. Lin stressed that economic growth was a healthy 6.28 percent for the first quarter of this year, while the unemploy-ment rate was lower at 4.53 percent during the same period.

■ SIA confident on WTO ruling

The Semiconductor Industry Association (SIA) said late Monday that the WTO is almost certain to find that China's value-added tax (VAT) on imported semiconductors is in violation of WTO rules. China presently imposes a 17 percent VAT on sales of all semiconductors, but rebates the amount of the VAT burden in excess of 3 percent for semiconductors made in China. "The discriminatory tax on imported semiconductors remains in effect. The multilateral consultations with other interested parties offer an excellent opportunity for China to take early action to eliminate the discrimination on imported semiconductor products as required by WTO rules," said SIA president George Scalise.

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