The assets of offshore banking units (OBUs) totaled US$69.22 billion as of the end of last year, although capital coming from Asia dropped while the capital from the US increased to 20 percent, the Directorate General of the Budget, Accounting and Statistics (DGBAS) said yesterday.
As of the end of last year, 70 banks in Taiwan were engaged in OBU operations. These included 42 domestic banks and 28 foreign banks, the DGBAS said.
Assets of OBU operations last year totaled US$69.22 billion, expanding by an average annual rate over the past five years of 10.9 percent.
The source of capital came mainly from deposits of financial institutions, accounting for 61.7 percent at the end of last year.
In terms of the sources of capital, Asia was a major source over the past several years, accounting for more than 70 percent, but the ratio has slipped since 2001. The ratio dropped to 64 percent last year, compared with the US and Europe, which increased to 20 percent and 11 percent, respectively.
In terms of the destination of capital, Asia has been the major destination over the past several years, accounting for 67 percent at the end of last year, followed by the US at 20 percent, and Europe at 10 percent.
There has been an upward trend in Asia over the years, and a downward trend for the US, DGBAS officials added.
UNCERTAINTY: Innolux activated a stringent supply chain management mechanism, as it did during the COVID-19 pandemic, to ensure optimal inventory levels for customers Flat-panel display makers AUO Corp (友達) and Innolux Corp (群創) yesterday said that about 12 to 20 percent of their display business is at risk of potential US tariffs and that they would relocate production or shipment destinations to mitigate the levies’ effects. US tariffs would have a direct impact of US$200 million on AUO’s revenue, company chairman Paul Peng (彭雙浪) told reporters on the sidelines of the Touch Taiwan trade show in Taipei yesterday. That would make up about 12 percent of the company’s overall revenue. To cope with the tariff uncertainty, AUO plans to allocate its production to manufacturing facilities in
Taiwan will prioritize the development of silicon photonics by taking advantage of its strength in the semiconductor industry to build another shield to protect the local economy, National Development Council (NDC) Minister Paul Liu (劉鏡清) said yesterday. Speaking at a meeting of the legislature’s Economics Committee, Liu said Taiwan already has the artificial intelligence (AI) industry as a shield, after the semiconductor industry, to safeguard the country, and is looking at new unique fields to build more economic shields. While Taiwan will further strengthen its existing shields, over the longer term, the country is determined to focus on such potential segments as
COLLABORATION: Given Taiwan’s key position in global supply chains, the US firm is discussing strategies with local partners and clients to deal with global uncertainties Advanced Micro Devices Inc (AMD) yesterday said it is meeting with local ecosystem partners, including Taiwan Semiconductor Manufacturing Co (TSMC, 台積電), to discuss strategies, including long-term manufacturing, to navigate uncertainties such as US tariffs, as Taiwan occupies an important position in global supply chains. AMD chief executive officer Lisa Su (蘇姿丰) told reporters that Taiwan is an important part of the chip designer’s ecosystem and she is discussing with partners and customers in Taiwan to forge strong collaborations on different areas during this critical period. AMD has just become the first artificial-intelligence (AI) server chip customer of TSMC to utilize its advanced
While China’s leaders use their economic and political might to fight US President Donald Trump’s trade war “to the end,” its army of social media soldiers are embarking on a more humorous campaign online. Trump’s tariff blitz has seen Washington and Beijing impose eye-watering duties on imports from the other, fanning a standoff between the economic superpowers that has sparked global recession fears and sent markets into a tailspin. Trump says his policy is a response to years of being “ripped off” by other countries and aims to bring manufacturing to the US, forcing companies to employ US workers. However, China’s online warriors
RSS