■ Semiconductors Chip VAT rebates extended \n \nWeeks after agreeing to scrap tax rebates to Chinese semiconductor makers following US complaints, Beijing says it has a new plan for similar reimburse-ments on products that contain chips made in China. The new plan, announced on Tuesday by the National Development and Reform Commission, appears to apply to chips made in China by both domestic and foreign com-panies. Chip makers with factories outside China complained that the earlier measure unfairly hurt them in the Chinese market by return-ing a 17 percent VAT to domestic makers on chip sales in China while foreign producers got nothing. The new plan will give a full VAT rebate on exports of pro-ducts that contain chips made in China, the com-mission said on its Web site. \n \n■ Semiconductors \nHynix fined for bad books \n \nSouth Korean microchip giant Hynix Semiconductor has been fined for irregular accounting practices, financial regulators said yesterday. The Securities and Futures Commission said Hynix has been fined 2 billion won (US$1.7 mil-lion) for falsifying its accounts to the tune of 1.98 trillion won in 1999. Former Hynix president Park Jong-Sup and two other exec-utives have been referred to prosecutors for punishment, the commission said. Hynix admitted its former manage-ment was involved in illegal accounting but said the company had since cleaned up its financial statements. \n \n■ Telecoms \nSingTel ready to launch 3G \n \nSingapore Telecommunica-tions (SingTel) said yester-day it will commercially launch its high-speed third generation (3G) mobile service within months, putting it at the forefront of Southeast Asian telecoms firms looking to roll out the technology. SingTel said it will start a month-long trial for 150 customers tomor-row and use their feedback to fine-tune problems before beginning full commercial operations. The commercial start-up could come as early as the end of this year, although it was more likely to be the first quarter of next year, a top official said. \n \n■ Banking \nShare purchase to end \n \nJapan's central bank plans to stop buying stocks from the nation's banks later this month because financial markets have stabilized, officials say. In an unprece-dented move, the Bank of Japan decided in 2002 to buy shares from banks to pump more money into the financial system as the economy struggled with a slowdown that lasted more than a decade. The measure was initially intended to last a year, but the bank extended it for one more year. The pur-chases were slated to end on Sept. 30, and would need a special extension. \n \n■ Automobiles \nChinese await price cuts \n \nChina's vehicle imports rose at a slower pace last month as potential buyers held off purchasing new vehicles in anticipation prices will fall further. Imports rose 2.6 percent last month from a year earlier to 12,000 vehicles, compared with a 5.4 percent increase in July, the commerce ministry said in its Web site. Total vehicle imports gained 6.5 percent to 124,700 units in the first eight months of the year, the ministry said. China will remove import quotas and cut tariffs to 30 percent next year from as much as 37.6 percent in order to meet its WTO obligations.
‘HERO OF THE ERA’: President Tsai Ing-wen expressed deep sadness at Lee’s passing, and told the government to assist his family with all their needs Former president Lee Teng-hui (李登輝) passed away at 7:24pm yesterday at Taipei Veterans General Hospital. He was 97 years old. The hospital stated the cause of death as septic shock and multiple organ failure. Lee had been hospitalized there since February, when he choked on a mouthful of milk at home. He was later diagnosed with pulmonary infiltrates and aspiration pneumonia. The hospital said that Lee had been treated with antibiotics, but that his health had not improved, as his advanced age and diabetes had inhibited his immune system and led to recurring infections. During his hospitalization, Lee underwent daily kidney dialysis, which removed
‘WEAK POSITIVE’: The man arrived in Taiwan in May and was quarantined for two weeks, Chen Shih-chung said, adding that he might be infected a long time ago The government is considering tightening mask-wearing rules again in light of a potential domestic COVID-19 infection, Minister of Health and Welfare Chen Shih-chung (陳時中) said yesterday. The Central Epidemic Command Center (CECC) confirmed seven new COVID-19 cases, six of which are imported. The other case involves a Belgian engineer who entered Taiwan on May 3 and remained in quarantine until May 17, said Chen, who heads the CECC. Although the source of infection has yet to be identified, the case could end the nation’s record of not having any domestic cases in the previous 110 days. The Belgian, in his 20s, is a technician
RECEIVING TREATMENT: President Tsai Ing-wen, Vice President William Lai and Premier Su Tseng-chang visited former president Lee Teng-hui yesterday morning Taipei Veterans General Hospital yesterday rebutted speculation that former president Lee Teng-hui (李登輝) had died a day earlier, saying that he was weak, but receiving treatment. The hospital said the 97-year-old Lee was not in good condition and needed ongoing care, adding that if there are any changes in his condition, it would make those public. The comments came after rumors emerged online on Tuesday that Lee had died after being hospitalized since early February. Soon after the unsubstantiated rumors emerged, reporters started flocking to the hospital seeking confirmation. Lee was admitted to Taipei Veterans General Hospital on Feb. 8 after choking while drinking
ROAD TO HISTORY: When Lee Teng-hui joined the KMT, the likelihood of a Taiwanese becoming ROC president, much less its first directly elected one, was hard to imagine Lee Teng-hui (李登輝), who was born on Jan. 15, 1923, in the farming community of Sanshi Village, Taihoku Prefecture — now New Taipei City’s Sanzhi District (三芝) — during the Japanese colonial era, and rose to become mayor of Taipei and not only the Republic of China’s (ROC) first Taiwan-born president, but its first directly elected one as well. Educated in the Japanese educational system of the time, Lee, who spoke Japanese, Hoklo (also known as Taiwanese), Mandarin and English, won a scholarship to Kyoto Imperial University, but his studies were interrupted by World War II. He earned a bachelor’s