The 38 percent fall in the TAIEX since President Chen Shui-bian (
According to The Journalist (
In all, the senior government officials have racked up an estimated NT$116 million in stock losses since May, according to the magazine.
The biggest loser was Minister of Economic Affairs Lin Hsin-yi (
The second-biggest loser was Minister of Foreign Affairs Tien Hung-mao (
Third on the list was President Chen Shui-bian (
But The Journalist's report also found that assets held by the first family have grown nearly NT$70 million since December 1997, when Chen was the mayor of Taipei.
Chen owns three houses worth NT$29 million; deposit accounts worth NT$13 million; NT$38 million in government bonds; an estimated NT$25 million in stock shares; and NT$14 million in other funds.
In all, Chen and his family are worth roughly NT$120 million.
The Journalist based its numbers on figures garnered from a soon-to-be published Control Yuan report, which requires government officials to declare their financial holdings.
In addition to Lin, another financial official who appears to have lost big in the market is Perng Fai-nan (
Other economic and financial ministers also had stock market loses, though not as severe. Chen Po-chih (
Lin Chuan (
In comparison, Premier Chang Chun-hsiung (張俊雄) was lucky. Chang had an estimated NT$20,452 in losses, according to the magazine.
In addition to highlighting the stock market losses of government officials, The Journalist provided details of their favorite holdings.
Taiwan Semiconductor Manufacturing Co (台積電), United Microelectronics Corp (聯電), Chinatrust Commercial Bank (中信銀), Cathy Construction (國建), Nanya Technology (南亞), and Chinfon Commercial Bank (慶豐商銀) were all owned by at least three government officials.
Some government officials have avoided the stock market altogether. They include Vice Premier Lai In-jaw (
SECURITY: As China is ‘reshaping’ Hong Kong’s population, Taiwan must raise the eligibility threshold for applications from Hong Kongers, Chiu Chui-cheng said When Hong Kong and Macau citizens apply for residency in Taiwan, it would be under a new category that includes a “national security observation period,” Mainland Affairs Council (MAC) Minister Chiu Chui-cheng (邱垂正) said yesterday. President William Lai (賴清德) on March 13 announced 17 strategies to counter China’s aggression toward Taiwan, including incorporating national security considerations into the review process for residency applications from Hong Kong and Macau citizens. The situation in Hong Kong is constantly changing, Chiu said to media yesterday on the sidelines of the Taipei Technology Run hosted by the Taipei Neihu Technology Park Development Association. With
CARROT AND STICK: While unrelenting in its military threats, China attracted nearly 40,000 Taiwanese to over 400 business events last year Nearly 40,000 Taiwanese last year joined industry events in China, such as conferences and trade fairs, supported by the Chinese government, a study showed yesterday, as Beijing ramps up a charm offensive toward Taipei alongside military pressure. China has long taken a carrot-and-stick approach to Taiwan, threatening it with the prospect of military action while reaching out to those it believes are amenable to Beijing’s point of view. Taiwanese security officials are wary of what they see as Beijing’s influence campaigns to sway public opinion after Taipei and Beijing gradually resumed travel links halted by the COVID-19 pandemic, but the scale of
Pope Francis is be laid to rest on Saturday after lying in state for three days in St Peter’s Basilica, where the faithful are expected to flock to pay their respects to history’s first Latin American pontiff. The cardinals met yesterday in the Vatican’s synod hall to chart the next steps before a conclave begins to choose Francis’ successor, as condolences poured in from around the world. According to current norms, the conclave must begin between May 5 and 10. The cardinals set the funeral for Saturday at 10am in St Peter’s Square, to be celebrated by the dean of the College
TRADE: A mandatory declaration of origin for manufactured goods bound for the US is to take effect on May 7 to block China from exploiting Taiwan’s trade channels All products manufactured in Taiwan and exported to the US must include a signed declaration of origin starting on May 7, the Bureau of Foreign Trade announced yesterday. US President Donald Trump on April 2 imposed a 32 percent tariff on imports from Taiwan, but one week later announced a 90-day pause on its implementation. However, a universal 10 percent tariff was immediately applied to most imports from around the world. On April 12, the Trump administration further exempted computers, smartphones and semiconductors from the new tariffs. In response, President William Lai’s (賴清德) administration has introduced a series of countermeasures to support affected
RSS