Mi­croin­sur­ance cov­ers 142,000 peo­ple: su­per­vi­sory com­mis­sion

The China Post - - TAIWAN BUSINESS -

Some 142,000 peo­ple in Tai­wan are now part of a mi­croin­sur­ance pro­gram that was launched in the coun­try in 2009, the Fi­nan­cial Su­per­vi­sory Com­mis­sion (FSC, ) said.

In 2014 alone, the num­ber of in­sured in­creased by 77,000, thanks mainly to less strin­gent el­i­gi­bil­ity re­quire­ments and var­i­ous pro­mo­tional ef­forts, FSC Chair­man Tseng Ming-chung ( ) said in a news con­fer­ence held af­ter a weekly Cabi­net meet­ing.

He pre­dicted that the num­ber of in­sured will con­tinue to rise, in­creas­ing this year by 60,000.

Ac­cord­ing to the FSC, the mi­croin­sur­ance pro­gram is aimed at pro­vid­ing ba­sic pro­tec­tion for eco­nom­i­cally dis­ad­van­taged peo­ple, on a year by year ba­sis.

Dur­ing the Cabi­net meet­ing, Pre­mier Mao Chi-kuo said car­ing for the dis­ad­van­taged is one of the gov­ern­ment’s core poli­cies and he di­rected the FSC to con­tinue to en­cour­age in­sur­ance com­pa­nies to pro­vide mi­croin­sur­ance to help build a so­cial se­cu­rity net­work. con­duc­tor con­tract man­u­fac­turer, has set a goal of be­gin­ning mass pro­duc­tion of chips on the 10-nanome­ter tech­nol­ogy by the end of 2016, Mark Liu, its pres­i­dent and chief ex­ec­u­tive of­fi­cer, said.

TSMC last year won huge or­ders for Ap­ple Inc.’s next-gen­er­a­tion mo­bile de­vice pro­ces­sors, which had pre­vi­ously been awarded to Sam­sung of South Korea.

How­ever, TSMC is likely fall be­hind Sam­sung in terms of foundry mar­ket share for 16nm/14nm pro­ces­sors this year, Liu said at a sem­i­nar in Cal­i­for­nia.

In ad­di­tion, Sam­sung is set to ob­tain fresh or­ders for Ap­ple’s next-gen­er­a­tion mo­bile de­vice pro­ces­sors, he said.

How­ever, since Ap­ple usu­ally or­ders it pro­ces­sors from mul­ti­ple sup­pli­ers, it is un­cer­tain whether Sam­sung would be the main sup­plier, Liu added.

In the face of such strong com­pe­ti­tion, TSMC is speed­ing up its tran­si­tion to new tech­nol­ogy pro­cesses, he said.

TSMC Chair­man Mor­ris Chang ( ) has said sev­eral times that the com­pany’s goal is to over­take its main com­peti­tors in the mar­ket for 16nm/14nm chips by 2016 and main­tain that lead in the mar­ket in the fol­low­ing years, ac­cord­ing to Liu.

Liu said TSMC’s goal is to be able to of­fer its cus­tomers chips on the 10-nm process by the end of 2016 and to ex­pand pro­duc­tion ca­pac­ity so that cus­tomers will not suf­fer any sup­ply short­falls.

The com­pany said at an in­vestors’ meet­ing ear­lier this year that it will in­vest a record US$11.5 bil­lion-12 bil­lion this year in pro­duc­tion ex­pan­sion.

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