The central bank is pushing for curbs to be imposed on the amount of Chinese capital that can be placed in local stocks, hoping to stem the inflow of speculative funds, an official said yesterday.
The Financial Supervisory Commission, which has the authority to set limits on Chinese funds, has been approached by central bank officials eager to keep controls tight, said Lu Ting-chieh (盧廷劼), the commission’s chief secretary.
“The central bank has expressed the hope to us that we will cut the investment amount,” Lu said.
Chinese institutional investments in stocks are expected soon after Saturday, when three financial memoranda signed by Taipei and Beijing in November take effect, including one that allows Chinese investors to place funds in Taiwan’s stock markets.
The commission had initially set the maximum for Chinese institutional investments at an overall total of US$1 billion, but the central bank’s recent approaches indicate it considers this amount too large.
The Economic Daily News reported yesterday the central bank’s move to cut the investment amount aims to curb market speculation amid fears that a massive entry of foreign funds will destabilize the New Taiwan dollar.
The Ministry of Transportation and Communications yesterday inaugurated the Danjiang Bridge across the Tamsui River in New Taipei City, saying that the structure would be an architectural icon and traffic artery for Taiwan. Feted as a major engineering achievement, the Danjiang Bridge is 920m long, 211m tall at the top of its pylon, and is the longest single-pylon asymmetric cable-stayed bridge in the world, the government’s Web site for the structure said. It was designed by late Iraqi-British architect Zaha Hadid. The structure, with a maximum deck of 70m, accommodates road and light rail traffic, and affords a 200m navigation channel for boats,
Taiwan Semiconductor Manufacturing Co (TSMC, 台積電), the world’s largest foundry service provider, yesterday said that global semiconductor revenue is projected to hit US$1.5 trillion in 2030, after the figure exceeds US$1 trillion this year, as artificial intelligence (AI) demand boosts consumption of token and compute power. “We are still at the beginning of the AI revolution, but we already see a significant impact across the whole semiconductor ecosystem,” TSMC deputy cochief operating officer Kevin Zhang (張曉強) said at the company’s annual technology symposium in Hsinchu City. “It is fair to say that in the past decade, smartphones and other mobile devices were
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