Minister of Finance Chuang Tsui-yun (莊翠雲) is to lead a delegation to the Asian Development Bank’s (ADB) 56th annual meeting of the board of governors in Incheon, South Korea, from today to Friday, the ministry said yesterday.
The minister plans to shore up Taiwan’s international visibility and explore opportunities for multilateral financial connections and cooperation at the meeting, it said.
This year’s theme is “Rebounding Asia: Recover, Reconnect and Reform,” the bank said on its Web site.
Photo: Clare Cheng, Taipei Times
At the meeting, finance ministers, central bank governors and officials from ADB members are to interact with representatives from the private sector, development partners, young people, academia, civil society and the media, it said.
Central bank Deputy Governor Chu Mei-lie (朱美麗), who is Taiwan’s alternate governor to the ADB, is also to attend.
The board of governors are expected to focus on the bank’s role in ensuring a sustainable and inclusive recovery among developing member countries, while seeking to make greater contributions in the region, including on climate change, it said.
Participants are also to explore ways to expand ADB’s lending capacity to meet high demand for financing, it added.
The meeting’s events provide an opportunity for policymakers and development leaders from across Asia and the Pacific to examine the issues that would shape the region’s recovery from the COVID-19 pandemic, ADB Managing Director General Woochong Um said.
The flagship Governors’ Seminar is to focus on policies to support the region’s rebound.
ADB President Masatsugu Asakawa is to update the governors on the bank’s operations and set forth his vision for the organization at the business sessions.
Other seminars are to address topics such as workforce and technology needs for a green transition, gender and financial inclusion, new sources of growth and the private sector’s role in promoting sustainable growth, it said.
NXP Semiconductors NV expects its first automotive-grade 5-nanometer chip built by Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) to become available for automakers within one-and-a-half years at the earliest, following demand for better computing performance and energy efficiency for connected vehicles, a company executive said yesterday. That would mean a significant upgrade from the 16-nanometer technology NXP adopted in its existing series of microprocessors. NXP chief technology executive Lars Reger made the remarks during a media briefing yesterday in Taipei. The latest updates came after NXP unveiled its plan to source 5-nanometer capacity from TSMC in 2021. This is Reger’s first trip to
EVADING US CONTROLS? ‘These surveillance chips are relatively easy to manufacture compared to smartphone processors,’ a source said about HiSilicon’s components A Huawei Technologies Co (華為) unit is shipping new Chinese-made chips for surveillance cameras in a fresh sign that the Chinese tech giant is finding ways around four years of US export controls, two sources briefed on the unit’s efforts said. The shipments to surveillance camera manufacturers from the company’s chip design unit, HiSilicon Technologies Co (海思半導體), started this year, said one of the sources and a third source familiar with the industry supply chain. One of the sources briefed on the unit said that at least some of the customers were Chinese. Huawei unveiled new smartphones in the past few weeks that
CENTRAL BANK: The consumer price index would grow while core CPI is set to move forward at a milder rate, the governor said, adding that the GDP forecast is down The central bank yesterday kept its policy rate unchanged for the second straight quarter, saying that a rate pause would help support the economy, as consumer prices have moderated and would return to the 2 percent target next year. “The board gave unanimous support to a policy hold, although some members voiced concern over lingering inflationary pressures and called for close monitoring,” central bank Governor Yang Chin-long (楊金龍) told a media briefing after its quarterly board meeting. The consumer price index (CPI) would grow 1.83 percent next year, while core CPI after stripping out volatile items would advance a milder 1.73 percent,
SLUMP: The electronics, machinery and traditional industries posted the largest decline in the past year; overall, sectors showed gains over the previous month Taiwan’s industrial production index decreased 10.53 percent year-on-year to 91.38 last month, falling for a 15th consecutive month on an annual basis, as weak global economic growth continued to weigh on end-market demand and investment momentum, the Ministry of Economic Affairs said on Saturday. The industrial production index gauges output in Taiwan’s four main industries: manufacturing, electricity and gas supply, water supply, and mining and quarrying. Last month’s decline was the smallest contraction since March when the index dropped 16.03 percent from a year earlier. On a monthly basis, the index rose 7.28 percent, marking a second straight month of improvement,