Revenue “will start growing again from the second quarter or the third quarter next year,” Quang Viet president Charles Wu (吳朝筆) told investors at a quarterly conference in Taipei. Quang Viet Enterprise Co president Charles Wu poses for a photograph at an investors’ conference in Taipei yesterday. People will be more willing to go out to shop, which is good for Quang Viet’s business, if vaccines become available next year,” Wu said. Overall, Quang Viet’s revenue is expected to expand at a double-digit annual rate next year, but it will not return to pre-pandemic levels until 2022, he said. Principle & Will generates half of its revenue from supplying surgical gowns and surgical sheets, Quang Viet said.

From left, Chinese Nationalist Party (KMT) legislators Wen Yu-hsia, Lai Shyh-bao and Stacey Lee hold a news conference at the Legislative Yuan yesterday. Photo: Chu Pei-hsiung, Taipei TimesMore than 70 percent of the nation’s exports to RCEP nations already face zero customs tax, she said. In a Facebook post, Chiang said that Tsai had pledged that Taiwan would join the agreement under her leadership, but she now says that the RCEP is not important. Tsai’s administration has equated joining the RCEP with identifying with China’s “one country, two systems” principle, Ma said. The DPP is used to blaming China for everything, from deteriorating cross-strait relations to a regional economic partnership, he said.

By managing costs well, UIS expects its US subsidiary to turn a profit in the first year of operation, company president Benny Chen (陳柏辰) told an investors’ conference in Taipei. UIS is still in talks with TSMC about proceeding with its US fab construction project, Chen said. United Integrated Services Co Ltd president Benny Chen poses for a photograph at the company’s investors’ conference in Taipei yesterday. UIS helps the world’s biggest contract chipmaker build manufacturing facilities, including the chipmaker’s most advanced factories, Fab 14 and Fab 18 in Tainan. Revenue skyrocketed 72 percent to NT$28.81 billion in the January-to-September period from NT$16.74 billion a year earlier.

China must not overtake the USBy Huang Tien-lin 黃天麟As expected, the US presidential election had several similarities to Taiwan’s presidential election in 2000. Why would the US presidential election be a historical turning point? Some Taiwanese say that no matter who is elected US president, Washington is unlikely to significantly change its Taiwan policy. The rise of China and the decline of Taiwan also allowed China to move toward the forceful annexation of Taiwan. Today, China has won the support of more than half of the world in the race for global supremacy.

Cathay Life recurring yield falls on cautious approachBy Kao Shih-ching / Staff reporterCathay Life Insurance Co (國泰人壽) yesterday reported a recurring yield of 3.29 percent as of the end of September, down from 3.8 percent a year earlier, as it takes a more cautious investment strategy amid the COVID-19 pandemic. Recurring yield is a financial measure that shows how much a company earns from its investment on a regular basis. Cathay Life registered recurring yields from a range between 3.47 and 3.8 percent during the January-to-September period over the past four years, company data showed. Cathay Life preferred investment targets with higher credit ratings to avoid risks and disposed of those with ratings lower than triple B, which also reduced its recurring yield by 6 basis points, Lin said. A lower interest rate environment was also responsible for the drop in its recurring yield, he said.

Tsai praises efforts of Taiwanese to promote the nationStaff writer, with CNAPresident Tsai Ing-wen (蔡英文) yesterday highlighted efforts by overseas-based Taiwanese to promote the nation, during the first Overseas Community Affairs Council conference held online. President Tsai Ing-wen, left, delivers a speech by video yesterday on the opening day of the first Overseas Community Affairs Council conference. The organization seeks to increase the visibility of investment opportunities in Taiwan, Tsai said, adding that she thought these efforts could also be adopted in other countries. Overseas Taiwanese have also advocated for Taiwan’s international participation and raised the nation’s global visibility, Tsai said. Through the work of overseas Taiwanese, Taiwan can continue to enhance cooperation with other countries in fields such as trade and technology, Tsai said.

Tsai should let DPP vote as they please on US porkCHRISTMAS PRESENT: With public opinion against the policy, DPP legislators without party constraints might even abolish the executive order, a former physician saidBy Lin Liang-sheng and Kayleigh Madjar / Staff reporter, with staff writerPresident Tsai Ing-wen (蔡英文), as the Democratic Progressive Party (DPP) chairperson, should let party legislators vote as they wish on the issue of importing pork containing ractopamine, the Civil Alliance Against Poisoned Pork said yesterday. Photo: Chien Jung-fong, Taipei TimesChen might not actually support the policy, in which case he should urge the Tsai administration to clean up its own mess, Su added. Chen is bringing ractopamine-laced pork into the nation without considering its effect on domestic pork prices, while insisting that it would not be competitive in the market, alliance spokesman Lee Chien-cheng (李建誠) said. The Tsai administration has changed its position on imports of pork and beef containing ractopamine, now saying it would not have any effect, he said, adding that it might even allow ractopamine to be used domestically. Small and medium-sized swine farms are being forced out of the market, selling pork nearly at cost, yet Chen still only cares about beef noodle soup and steak vendors, Lee added.

Ministries urged to boost suicide-prevention helpBy Rachel Lin and William Hetherington / Staff reporter, with staff writerSuicide prevention and the need for more funding and resources for suicide prevention were the focus of discussion yesterday by Democratic Progressive Party (DPP) lawmakers on two Legislative Yuan committees. Public universities should get more money to help tackle the growing problem of student suicides and suicide attempts, two DPP lawmakers on the Education and Culture Committee said. There have been 76 suicide attempts so far this year and 59 last year,” Pan said. The Ministry of Health and Welfare’s suicide-prevention hotline was discussed at the Social Welfare and Environmental Hygiene Committee’s meeting. There are not enough volunteers to staff the hotline, and the health ministry should look into the problem, Su said.

Tseng was among the officials asked to report on the post-US election prospects for Taiwan-US economic and trade relations at a meeting of the Foreign Affairs and National Defense Committee. Taiwan and the US have a long-term and close economic and trade relationship, Tseng said, adding that last year the US was the nation’s second-largest trade partner, its second-largest export market and its third-largest source of imports. Deputy Minister of Economic Affairs Tseng Wen-sheng, second right, Deputy Minister of Foreign Affairs Harry Tseng, third right, and other officials attend a meeting of the Foreign Affairs and National Defense Committee at the Legislative Yuan in Taipei yesterday. Photo: George Tsorng, Taipei TimesTotal bilateral trade volume last year was more than US$81.08 billion, an increase of 11.7 percent from 2018, he said. Several top US companies this year have announced plans to increase investment in Taiwan, and the US administration and Congress have also taken actions to enhance the Taiwan-US economic and trade relationship, he said.

Number of staff on furlough falls by 379: ministryStaff writer, with CNAThe number of furloughed workers in the nation last week continued to fall, declining by nearly 380 from the previous week to 11,317, the lowest level since late June, the Ministry of Labor said yesterday. As of Friday last week, 467 companies had implemented unpaid leave programs, up 12 from a week earlier, with a total of 11,317 workers on furlough, down 379 from a week earlier, data compiled by the ministry showed. Large crowds of middle-aged and elderly people attend a job fair at the Taipei Flora Expo Park on Saturday. Photo: Liu Hsin-de, Taipei TimesMost of the decline last week came from two medium to large manufacturers. The programs typically last less than three months and involve employees taking five to eight days of unpaid leave per month, the ministry said.

Yulon has been restructuring its Chinese auto business and distribution channels over the past year as it struggles to boost Luxgen sales in China. Dong Feng Yulon Sales, which is 50 percent owned by Yulon, distributes Luxgen vehicles in China, while Dongfeng Yulon Motor Co (東風裕隆汽車), a 50-50 venture between Yulon and Chinese automaker Dongfeng Automobile Co (東風汽車), makes Luxgen vehicles. Yulon, based in Miaoli County’s Sanyi Township (三義), has been in discussions with its Chinese partner about a restructuring of Dongfeng Yulon Motor to stem losses, Yulon told investors in August. “The court has approved that Dong Feng Yulon Sales Co should enter an insolvency procedure, given its financial situation,” Yulon spokesman Steven Lo (羅文邑) told a media briefing at the Taiwan Stock Exchange on Friday. Yulon shares jumped to NT$37.7 yesterday, with turnover surging to 10.62 million shares, three times the average trading volume of 3.1 million shares in the first 10 trading days of this month.

EY spokesman steps down after beef noodle gaffeStaff writer, with CNATing Yi-ming (丁怡銘) has resigned as Executive Yuan spokesman after wrongly claiming that an award-winning beef noodle soup restaurant serves meat that contains ractopamine. Premier Su Tseng-chang (蘇貞昌) late on Sunday approved Ting’s resignation with immediate effect, Executive Yuan Secretary-General Li Meng-yen (李孟諺) said yesterday. From left, Chinese Nationalist Party (KMT) Taipei City councilors Wang Hung-wei, KMT Taichung City Councilor Lo Ting-wei and New Party Taipei City Councilor Ho Han-ting yesterday ring the bell at the Taipei District Prosecutors’ Office to file a lawsuit against former Executive Yuan spokesman Ting Yi-ming. Ting, at a news conference held following the Executive Yuan’s weekly meeting on Thursday, said that the winner in this year’s Taipei International Beef Noodle Festival uses imported US beef containing the leanness enhancer. The statement was condemned by the Chinese Nationalist Party (KMT), which accused Ting of spreading false information as a government spokesman and called on him to resign.

TAIEX closes at new high despite unease over RCEPTAKING A PROFIT: With November futures contracts scheduled to be settled tomorrow, foreign investors scrambled to buy in the spot market, an analyst saidBy Kao Shih-ching / Staff reporterThe TAIEX yesterday rose 2.1 percent to close at 13,551.83, a record high, despite Taiwan not being included in a regional trade deal signed by 15 Asia-Pacific nations on Sunday. Turnover was NT$234.691 billion (US$8.15 billion), slightly up from last week’s average of NT$225 billion, while foreign institutional investors bought a net NT$22.87 billion of shares, the data showed. Photo: CNAOther Asian markets also advanced after the 15 nations signed the world’s largest regional free-trade agreement, the Regional Comprehensive Economic Partnership (RCEP). Taiwan Semiconductor Manufacturing Co (TSMC, 台積電), the most heavily weighted stock in the TAIEX, rose 4.76 percent to close at a new high of NT$484 and a record capitalization of NT$12.55 trillion. “Thanks to TSMC, the TAIEX steamed ahead today,” Mega International Investment Services Corp (兆豐國際投顧) analyst Alex Huang (黃國偉) said.

RCEP exclusion to have little effectBy Crystal Hsu / Staff reporterTaiwan’s exclusion from the Regional Comprehensive Economic Partnership (RCEP) would have little effect on local exporters, because most firms already have a presence in Southeast Asia to take advantage of the favorable tariff terms there, government officials said yesterday. Fifteen Asia-Pacific nations on Sunday signed the free-trade deal to form a trade bloc that accounts for nearly 30 percent of global GDP. Minister of Finance Su Jain-rong (蘇建榮) told a meeting of the legislature’s Finance Committee that tariffs are already exempted on about 70 percent of Taiwanese shipments to RCEP markets. Minister of Finance Su Jain-rong speaks at a meeting of the legislature’s Finance Committee in Taipei yesterday. RCEP members have negotiated trade terms for the past eight years during which time major Taiwanese companies have made inroads in ASEAN markets, giving them access to free trade, Su said.

Taiwanese seen as identifying with Taiwan, poll findsBy Rachel Lin and William Hetherington / Staff reporter, with staff writerA majority of respondents in a survey on civic and national consciousness said that Taiwanese generally demonstrate a sense of identification with Taiwan, the Professor Huang Kun-huei Education Foundation said yesterday. The survey found that 89.1 percent said it was important for citizens to “be proud of being Taiwanese,” and 74.4 percent felt Taiwanese generally showed such behavior. The survey found that 89.8 percent felt it is important for Taiwanese to see Taiwan as a sovereign nation and not part of another country, and 73.2 percent felt that Taiwanese generally demonstrated such an understanding. The online poll surveyed 4,000 people, of which 1,848 completed the survey, foundation poll committee convener Kuo Sheng-yu (郭生玉) said. “While the respondents felt that Taiwanese largely identified with a national consciousness, they also felt that Taiwanese are not living up to their responsibilities as citizens.