In the past year, positive steps have been taken by the Financial Supervisory Commission (FSC) to build a better business environment and stimulate financial product innovation in Taiwan. In the newly published 2017 Taiwan White Paper, the Asset Management Committee of the American Chamber of Commerce in Taipei commends these reforms. The Asset Management Committee…
When I arrived in a vibrant Taipei at the end of 1990, the young professionals I met were upwardly mobile and full of hope. Learning English was all the rage, and they diligently studied English in their spare time. Since arriving in Taiwan, I have been a teacher, trainer, coach, and consultant. These jobs have…
Massive fines have forced the popular ride-hailing app to suspend its Taiwan operations from February 10. In Taiwan, the end of the road for Uber came swiftly. The ride-hailing app juggernaut, which is the world’s largest startup by valuation, suspended services here in February after being fined more than NT$1 billion (around US$31 million) in…
Apple Pay Launches Service in Taiwan Apple Pay became available to users in Taiwan as of 7 a.m. on March 29, with seven local banks coming forward to support the online payment app and a number of businesses leaping to capitalize on the system. The payment app allows consumers with an iPhone 6 or more…
Despite regulatory travails, Alibaba’s C2C e-commerce platform is steadily finding a niche with young, bargain-hunting shoppers. When she wants to shop for clothes, Carrie Chen picks up her smartphone and clicks on the Taobao app. The Chinese e-commerce portal – which is owned and operated by e-commerce giant Alibaba – lists hundreds of thousands of…
Uber is Over in Taiwan, at Least for Now Uber announced that it was suspending operations in Taiwan effective February 10 in an effort to “reset” discussions with the government over the U.S.-based ride-hailing company’s operational status. The Taiwan government insists that Uber register as a transportation company and follow relevant regulations, but Uber regards…
Nan Shan takes over Chaoyang Life Insurance Nan Shan Life Insurance was the victor in the Taiwan Insurance Guaranty Fund (TIGF) reverse auction for Chaoyang Life Insurance Co. on January 16, accepting the bailout offer of NT$200 million (US$6.3 million) for taking over Chaoyang’s assets and debts. The deal obligates Nan Shan to honor the…
State Department official brings message of entrepreneurship and innovation. The U.S. State Department’s Acting Representative for Global Partnerships, Thomas Debass, took part in a series of programs during a visit to Taiwan in mid-November in connection with Global Entrepreneurship Week. In line with Taiwan’s objective of developing an “Asian Silicon Valley” to promote innovative industries,…
TransAsia Airways Ceases Operations Domestic airline TransAsia Airways declared it insolvency on November 22, after years of lackluster sales and revenue losses and two horrific crashes within a seven-month period that killed more than 90 people. The airline’s CEO, Liu Tung-ming, said that the executive team had looked at various options including a sale, restructuring,…
Taiwan has found it hard to move up further in the annual Doing Business report. Each year in late October, the World Bank releases the results of its Doing Business survey that assesses, country by country, the ease or difficulty for private enterprises of conducting business. In the newly issued 2017 report, Taiwan (or “Taiwan,…
