The government yesterday encouraged life insurance companies to inject funds into public infrastructure to help keep the country’s economy on track.
Council for Economic Planning and Development Vice Chairman Hu Chung-ying (胡仲英) told a press conference yesterday that the government had “made progress” in devising ways for life insurance companies to circumvent statutory restrictions and thereby include public infrastructure in their investment portfolio.
Most life insurance companies have shown an interest in directing funding toward infrastructure projects, but are prohibited from doing so by restrictions relating to joint liabilities and profits related to investments covered by the Insurance Act (保險法), Hu said.
Without going into detail, Hu said that the government would now allow life insurance companies to invest in certain public infrastructure projects on a case-by-case basis, following specific regulations without being subject to the act, Hu said.
Hu made the remarks following a weekly task force meeting led by Acting Premier Sean Chen (陳?).
Another issue discussed at the meeting was how to address problems facing small and medium-sized enterprises (SMEs) in the face of a global economic downturn, particularly in terms of providing financing and credit guarantees.
The Financial Supervisory Commission would encourage general managers at local banks to increase the weight of loans to SMEs at a meeting scheduled for Monday, while the Ministry of Economic Affairs would propose a package to help such firms at next week’s meeting, Hu said.
Proposed legislation in the US outlines three conditions in which Washington would be authorized to protect Taiwan were China to invade, a report said yesterday. US Representative Ted Yoho this month said he would introduce a Taiwan Invasion Prevention Act, which would authorize US military force if China were to invade Taiwan-controlled areas, including its outlying islands. According to a version of the bill obtained by the Chinese-language Liberty Times (the sister paper of the Taipei Times), the bill lists three conditions in which a US president would be authorized to use military force to protect Taiwan: If China uses military force
The Supreme Court on Tuesday found four men guilty of attempted murder in the 2017 stabbing of Spanish surfer Ignacio Prio on a Pingtung County beach in the final ruling in the case, sentencing them to three-and-a-half to six years in prison. The defendants had appealed their convictions for attempted murder in the first and second rulings, which had also led to prison sentences ranging from three-and-a-half years to six years. The then-42-year-old Prio went to Jialeshui Beach (佳樂水) near Kenting (墾丁) on March 31, 2017, was attacked after he asked four men to remove their fishing lines from an area
Two new commuter trains are scheduled to be launched in January next year, the Taiwan Railways Administration (TRA) said yesterday. The acquisition of EMU-900 commuter train cars is part of the railway operator’s plan to replace 589 train cars that have been in operation for more than three decades. The agency has also placed orders to buy 600 intercity train cars. The first batch of 20 EMU-900 cars is to be delivered to the nation in September, although delivery might be delayed until October due to the COVID-19 pandemic, the agency said. The batch would be formed into two trains of 10
‘IMMORAL, INSINCERE’: Huang Kun-huei said that Ma was ‘distorting history’ in claiming that Lee Teng-hui laid the foundation for the so-called ‘1992 consensus’ Former Presidential Office secretary-general Huang Kun-huei (黃昆輝) on Saturday rejected former president Ma Ying-jeou’s (馬英九) claim that former president Lee Teng-hui (李登輝) had been a proponent of Beijing’s “one China” principle. Lee, who served as president from 1988 to 2000, died in Taipei on Thursday last week. After visiting the Taipei Guest House on Saturday to pay his respects to Lee, Ma posted on Facebook that “28 years ago on this day” Lee hosted a session of the now-defunct National Unification Council, during which he passed a resolution on the “one China” principle. That resolution became the basis of the Chinese Nationalist Party’s