The Financial Supervisory Commission (FSC) said on Wednesday it would follow regulations set by the Ministry of Finance on capping the monthly salaries paid to the heads of its agencies.
Figures provided by the commission to the legislature this week show that, among the 35 heads of FSC agencies, 14 people receive not only high monthly salaries, but also enjoy monthly pension payments or a preferential 18 percent interest rate on savings that are offered to retired military personnel, civil servants and teachers.
Several chairmen of financial regulatory bodies, such as Taiwan Stock Exchange Corp chairman Schive Chi (薛琦), Taiwan Futures Exchange Corp chairman Joseph Tsai (蔡慶年), Taiwan Depository and Clearing Corp chairman Tony Fan (范志強) and GRETAI Securities Market chairman Gordon Chen (陳樹), reportedly earn more than NT$400,000 a month, which has sparked criticism in the legislature.
Securities and Futures Bureau deputy director Wang Yung-hsin (王詠心) said the commission would soon send an official letter to its subsidiaries instructing them to follow the ministry’s rules on compensation.
The regulations state that the salary of people appointed or recommended by the ministry to serve as chairpersons or presidents of government-owned or partially state-funded financial institutions should not be more than double that of their counterparts in other state-run companies that are about the same in size and in the same field.
Based on this regulation, which took effect last month, the salary cap for those heads would be NT$320,000.
Nvidia Corp’s demand for advanced packaging from Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) remains strong though the kind of technology it needs is changing, Nvidia CEO Jensen Huang (黃仁勳) said yesterday, after he was asked whether the company was cutting orders. Nvidia’s most advanced artificial intelligence (AI) chip, Blackwell, consists of multiple chips glued together using a complex chip-on-wafer-on-substrate (CoWoS) advanced packaging technology offered by TSMC, Nvidia’s main contract chipmaker. “As we move into Blackwell, we will use largely CoWoS-L. Of course, we’re still manufacturing Hopper, and Hopper will use CowoS-S. We will also transition the CoWoS-S capacity to CoWos-L,” Huang said
Nvidia Corp CEO Jensen Huang (黃仁勳) is expected to miss the inauguration of US president-elect Donald Trump on Monday, bucking a trend among high-profile US technology leaders. Huang is visiting East Asia this week, as he typically does around the time of the Lunar New Year, a person familiar with the situation said. He has never previously attended a US presidential inauguration, said the person, who asked not to be identified, because the plans have not been announced. That makes Nvidia an exception among the most valuable technology companies, most of which are sending cofounders or CEOs to the event. That includes
INDUSTRY LEADER: TSMC aims to continue outperforming the industry’s growth and makes 2025 another strong growth year, chairman and CEO C.C. Wei says Taiwan Semiconductor Manufacturing Co (TSMC, 台積電), a major chip supplier to Nvidia Corp and Apple Inc, yesterday said it aims to grow revenue by about 25 percent this year, driven by robust demand for artificial intelligence (AI) chips. That means TSMC would continue to outpace the foundry industry’s 10 percent annual growth this year based on the chipmaker’s estimate. The chipmaker expects revenue from AI-related chips to double this year, extending a three-fold increase last year. The growth would quicken over the next five years at a compound annual growth rate of 45 percent, fueled by strong demand for the high-performance computing
TARIFF TRADE-OFF: Machinery exports to China dropped after Beijing ended its tariff reductions in June, while potential new tariffs fueled ‘front-loaded’ orders to the US The nation’s machinery exports to the US amounted to US$7.19 billion last year, surpassing the US$6.86 billion to China to become the largest export destination for the local machinery industry, the Taiwan Association of Machinery Industry (TAMI, 台灣機械公會) said in a report on Jan. 10. It came as some manufacturers brought forward or “front-loaded” US-bound shipments as required by customers ahead of potential tariffs imposed by the new US administration, the association said. During his campaign, US president-elect Donald Trump threatened tariffs of as high as 60 percent on Chinese goods and 10 percent to 20 percent on imports from other countries.
RSS