The Chinese Nationalist Party (KMT) remained the nation’s richest political party last year with NT$18.1 billion (US$595.06 million) in reported assets, despite posting losses totaling NT$800 million since 2015, its financial statements to the Ministry of the Interior show.
Last year, the KMT posted an income of NT$1.48 billion and expenditures of NT$2.07 billion, its financial disclosures show.
Since 2006, political parties and organizations have been obliged to disclose their financial statements to the ministry in accordance with the Guidelines for the Financial Declarations of Political Parties and Political Organizations.
Photo: Cheng Hung-ta, Taipei Times
The financial declarations are considered public information and the reports are to be made available later this month on the ministry’s Web site.
The KMT’s assets continue to dwarf those of the nation’s other major parties, including the Democratic Progressive Party, which had a reported worth of NT$700 million last year, recording NT$800 million in income and NT$510 million in expenditures, its statements show.
The New Power Party (NPP), founded in early 2015, last year had a net worth of more than NT$20 million, with an income of NT$46 million and expenditures of NT$34 million, its statements show.
The KMT declared its holdings under the party-owned Central Investment Co Ltd (中央投資公司) and Hsinyutai Co Ltd (欣裕台), which were last year declared illicit assets by the Ill-gotten Party Assets Settlement Committee.
Central Investments and Hsinyutai last year had combined assets of NT$15.2 billion, NT$400 million less than 2015’s figures, the statements show.
The KMT also declared NT$100 million in real estate and land, NT$3 million less than the previous year.
In addition, the KMT registered NT$93 million in “current liabilities,” or debts it had to pay within 12 months, the statements show.
The liabilities were comprised of NT$90 million and NT$3 million in private loans that the KMT had borrowed from former chairwoman Hung Hsiu-chu (洪秀柱) and Vice Chairman Jason Hu (胡志強), which had been paid in full by auditing time.
The KMT’s estimated NT$2.07 billion in expenditures included more than NT$1 billion in personnel costs, NT$800 million in operational expenses and NT$162.36 million in outbound political donations and others.
The party’s NT$1.48 billion in revenue was mainly from income gained in trust funds which made up an estimated NT$956 million, or 64.65 percent of the total, it said.
The KMT also received NT$278 million in political subsidies, NT$122 million in political contributions, NT$116 million in membership dues and other sources, the statements showed.
Meanwhile, the financial statements of the National Women’s League indicate that the organization last year had assets worth NT$38.4 billion, including 13 parcels of real estate and NT$240 million in returns on investments.
The league’s financial disclosure forms to the government showed that its actual holdings in May last year exceeded the sum it claimed in February by NT$300 million.
At the time, the league told local media outlets that it had NT$38.1 billion in net worth, NT$2.8 billion of which was to be donated
Its financial statements showed that the league increased its holdings by NT$1.7 billion from May last year through May this year.
SOLIDARITY: A group of European lawmakers condemned China’s aggressive moves, while the foreign minister of Lithuania said Taiwan ‘cannot become a second Ukraine’ A German parliamentary delegation would visit Taiwan in the first week of October, German lawmaker Holger Becker on Monday told visiting Democratic Progressive Party legislators Fan Yun (范雲) and Lin I-chin (林宜瑾) at the Bundestag in Berlin. Asked by Fan whether he is worried about possible reprisals from Beijing, such as banning him and his family from entering China, Becker said he is more interested in visiting Taiwan, as “now is the time for democracies to stand together.” Fan and Lin also met with German officials to exchange views on digital education and governance. Investing in digital infrastructure and protecting equal rights to
‘IRRATIONAL ACTS’: The defense ministry condemned the drills, during which China tested successors to missiles deployed during the Taiwan Strait Crisis in 1995 and 1996 China yesterday fired several Dongfeng ballistic missiles as it began four days of unprecedented military drills off Taiwan proper following US House of Representatives Speaker Nancy Pelosi’s visit to Taipei the previous day. On Tuesday, Chinese Minister of Foreign Affairs Wang Yi (王毅) said Beijing would “take all necessary measures” in retaliation should Pelosi visit Taiwan during her Asia tour. The Chinese People’s Liberation Army (PLA) from 1:56pm to 4pm fired 11 Dongfeng missiles into waters north, east and south of Taiwan proper, the Ministry of National Defense (MND) said. Taiwanese armed forces, using “forward warning and surveillance mechanisms,” monitored the missile tests
ANNEXATION PLANS: Remarks by the Chinese ambassador to France showed that Beijing seeks to normalize genocide, re-education and gulags, a US official said European and US officials condemned comments from Chinese Ambassador to France Lu Shaye (盧沙野), after he on Wednesday said that Taiwanese would be “re-educated” after any annexation by China. In an interview on French television, Lu accused the Democratic Progressive Party of “extremist” propaganda and turning Taiwanese against “reunification” with China. “We will re-educate. I’m sure that the Taiwanese population will again become favorable of the reunification and will become patriots again,” Lu told BFM TV. The term “re-education” has been used to describe Chinese authorities’ treatment of Uighurs and other Muslim minority groups in Xinjiang. European Parliament Subcommittee on Security and Defense Chairwoman
‘SIMULATED ATTACKS’: Ten warships each from China and Taiwan were maneuvering at close quarters in the Taiwan Strait, with some Chinese vessels crossing the median line Taiwan yesterday reiterated that it would not succumb to pressure from Beijing after China carried out its most provocative military drills in decades in retaliation for US House of Representatives Speaker Nancy Pelosi’s trip to Taiwan last week. “We will never bow to pressure. We uphold freedom and democracy, and believe Taiwanese disapprove [of] China’s bullying actions with force and saber rattling at our door,” Premier Su Tseng-chang (蘇貞昌) said yesterday. China had “arrogantly” disrupted regional peace and stability, he said, calling on Beijing to not flex its military muscles. President Tsai Ing-wen (蔡英文) has also called on the international community to “support