When is a foreign bank not a foreign bank? Answer: When it establishes a domestic subsidiary. Between 2007 and 2013, five leading international banks – Standard Chartered, Citi, HSBC, DBS, and ANZ – received approval from the financial authorities to expand their presence in Taiwan’s retail banking market by taking over the operations of local…

New York regulators’ fining of Mega Bank last year for lax compliance practices was a wake-up call. In a victory for the nation’s regulators, Taiwan in July was removed from a regional list of countries judged to have insufficient money-laundering controls. Taiwan had spent months revising legislation and pushing its financial institutions to crack down…

As consumer interest in organic foods grows, major food companies are entering this market segment.  Around the world, consumers are expressing greater interest in healthier diets that include more natural and organic ingredients without artificial additives and preservatives. Global sales of organic food have surged 200% over the last decade, according to research institutes, and…

William Lai Succeeds Lin Chuan As Premier Two-term Tainan Mayor William Lai (Lai Ching-te), considered one of the rising stars in the Democratic Progressive Party (DPP), was appointed to the premiership in early September. Lai, who turns 58 next month, holds a master’s in public health from Harvard and previously served as a member of…

Where business has slowed, the main reason appears to be economic factors. Ever since Beijing angrily terminated official communications with Taiwan’s then newly installed Tsai Ing-wen government in June last year, political relations with China have plunged to their coolest point in nearly a decade. But the cross-Strait political chill over Taiwan’s unwillingness to accept a…

Who will take up the baton from the current generation of Taiwan’s corporate leaders? Corporate succession is a sensitive topic in Taiwan, where many top business leaders take on larger-than-life roles in their firms, often opting to continue working well into their eighties. Strong family and personal connections often complicate the transfer of company leadership….