Taiwan and France have signed an exchange of letters to forge closer cooperation in the supervision of the insurance industry, the Financial Supervisory Commission said yesterday.
Commission Chairman Thomas Huang (黃天牧) signed the exchange of letters on Thursday, the commission said in a statement.
The exchange of letters was sent to the commission by the French Prudential Supervision and Resolution Authority (ACPR) after it was signed by Bank of France Governor and ACPR president Francois Villeroy de Galhau last month, the statement said.
Photo: Kelson Wang, Taipei Times
Under the exchange of letters, the commission and the ACPR would work closely in a wide range of areas in the insurance sector, such as information sharing, assistance with on-site examinations and cooperation in the supervision of cross-border establishments, it said.
The agreement would serve as a foundation for further supervisory cooperation in insurance between Taipei and Paris.
Taiwan’s financial industry has set up one business foothold in France, while the French financial sector has eight business outlets in Taiwan, including three established by insurance firms, the commission said.
Taiwan and France signed similar regulatory cooperation documents regarding securities and futures, banking and financial technology in 1994, 2006 and 2019 respectively, and the latest agreement would mean the two countries would launch a full range of financial regulatory cooperation, it said.
As of this month, the commission has signed 70 regulatory cooperation documents with 66 foreign counterparts, it said.
Shiina Ito has had fewer Chinese customers at her Tokyo jewelry shop since Beijing issued a travel warning in the wake of a diplomatic spat, but she said she was not concerned. A souring of Tokyo-Beijing relations this month, following remarks by Japanese Prime Minister Sanae Takaichi about Taiwan, has fueled concerns about the impact on the ritzy boutiques, noodle joints and hotels where holidaymakers spend their cash. However, businesses in Tokyo largely shrugged off any anxiety. “Since there are fewer Chinese customers, it’s become a bit easier for Japanese shoppers to visit, so our sales haven’t really dropped,” Ito
The number of Taiwanese working in the US rose to a record high of 137,000 last year, driven largely by Taiwan Semiconductor Manufacturing Co’s (TSMC, 台積電) rapid overseas expansion, according to government data released yesterday. A total of 666,000 Taiwanese nationals were employed abroad last year, an increase of 45,000 from 2023 and the highest level since the COVID-19 pandemic, data from the Directorate-General of Budget, Accounting and Statistics (DGBAS) showed. Overseas employment had steadily increased between 2009 and 2019, peaking at 739,000, before plunging to 319,000 in 2021 amid US-China trade tensions, global supply chain shifts, reshoring by Taiwanese companies and
Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) received about NT$147 billion (US$4.71 billion) in subsidies from the US, Japanese, German and Chinese governments over the past two years for its global expansion. Financial data compiled by the world’s largest contract chipmaker showed the company secured NT$4.77 billion in subsidies from the governments in the third quarter, bringing the total for the first three quarters of the year to about NT$71.9 billion. Along with the NT$75.16 billion in financial aid TSMC received last year, the chipmaker obtained NT$147 billion in subsidies in almost two years, the data showed. The subsidies received by its subsidiaries —
Taiwan Semiconductor Manufacturing Co (TSMC) Chairman C.C. Wei (魏哲家) and the company’s former chairman, Mark Liu (劉德音), both received the Robert N. Noyce Award -- the semiconductor industry’s highest honor -- in San Jose, California, on Thursday (local time). Speaking at the award event, Liu, who retired last year, expressed gratitude to his wife, his dissertation advisor at the University of California, Berkeley, his supervisors at AT&T Bell Laboratories -- where he worked on optical fiber communication systems before joining TSMC, TSMC partners, and industry colleagues. Liu said that working alongside TSMC
RSS