analysisoftaipeicityeconomicsituation

Analysis of Taipei City Economic Situation

2019 Q2

Economic dynamics: The number of company registrations and total capital continued to present stable growth. The sales amount of companies grew 1.81%, and the economic performance has been remarkable. The investment amount of overseas Chinese and foreigners and the number of foreign companies newly established are all over 60% nationwide and leading the country. The tax amount collected increased 3.85% annually, with the increase of the deed tax being the largest. Innovation dynamics: The weight sales amount of the knowledge intensity services industry throughout the country increased 68.64%, which helps with overall economic promotion. Entrepreneur dynamics: For startup businesses, the number of companies established by young entrepreneurs demonstrated a net increase. The categories "wholesale and retail sale," “professional, science, and technological services,” and "accommodation, food, and beverage" categories were the most popular industries for startup business. Price dynamics: The annual growth of the consumer price index was 1.02%, with the food care category having the biggest increase. Labor dynamics: Employment figures have increased, and the unemployment rate remains at the same level. The overall labor market is stable. Construction dynamics: The prosperity of the housing market has recovered, and real estate transactions are hot. The price index of urban land continues to rise, and the price of residence, business, and industrial areas have all increased. The tourist occupancy rate remains stable, with most of them being Japanese tourists.

 

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2019 Q1

Economic dynamics: The number of company registrations and total capital continues to present stable growth. The sales amount of companies grew 1.48%, and the economic performance has been remarkable. The investment amount of overseas Chinese and foreigners and the number of foreign companies newly established are all over 60% nationwide and rank at the top of the country. Innovation dynamics: the number of research centers remains at 47, and the number of headquarters has increased slightly to 84, leading the country. Regarding the sales amount of knowledge intensity services industry, the weight of Taipei City over the whole country decreased slightly to 64.07%. For startup businesses, the number of companies established by young entrepreneurs demonstrated a net increase. Regarding the industry distribution of startup companies, the percentage of “professional, science, and technological services” occupies almost 50%. The force of starting a business by domestic and foreign young entrepreneurs also demonstrated a net increase. Price dynamics: The annual growth of the consumer price index was 0.22%, with the medical care category having the biggest increase. Construction dynamics: The number of construction and usage licenses demonstrated a recession. The overall house market transactions faltered. Tourism dynamics: The tourist occupancy rate recovered to 74.56%, and most of them are Japanese tourists leading the overall tourism force.

 

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2018 Q4

The number of company registrations and total capital amount demonstrated stable growth. The sales revenue of companies grew 6.68%, and the economic performance was remarkable. The investment amount of Overseas Chinese and foreigners accounted for 76.63%, and the percentage of newly established foreign companies exceeded 70%. The annual growth of net tax collection amount was 3.39, and the increase of land value tax was the biggest. Regarding operations, the number of company registrations and total capital amount demonstrated stable growth. The number of research centers increased to 46, and operation headquarters also increased slightly to 83; the weight increased 25.94%, the highest in the country. Regarding the sales revenue of the knowledge intensity service industry, the weight of Taipei City increased slightly to 64.84% over the country. The age distribution of startup business entrepreneurs was mainly young adults in currently existing companies. The net increase of companies established by young entrepreneurs slowed down. As for the industry distribution of startup companies, the percentage of “professional, science, and technological services” was almost 50%. The net increase of domestic young entrepreneurs slowed. The CPI annual growth rate was 0.98%, with the increase of transportation and communication being the biggest. The number of employed individuals was around 1.284 million, and about 49,000 people were unemployed. The unemployment rate was 3.7% and 1000 less than the previous year, a slight 0.1% decrease, showing a gradually improving labor market. The numbers of construction and usage licenses issued, as well as floor area, all continuously recovered. Overall real estate transactions continued to recover, and the performance in Beitou, Zhongshan, and Neihu Districts were the best. The raise of the land value index of national urban areas was maintained at 1% for six consecutive periods, and the raise in Taipei was 0.21%. The tourist occupancy rate recovered, with Japanese tourists accounting for the majority.

 

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2018 Q3

The CPI annual growth rate was 1.24%, with the biggest increases being in transportation and communication. For construction, the number of construction licenses issued surpassed the number of usage licenses issued. The real estate situation became more conservative. Overall real estate transactions continued to recover, and the performance in Zhongshan, Beitou, and Nangang Districts were the best. The average household dispensable income was 1,344.5 thousands, a 1.8% increase compared to the previous year. The annual growth of net tax collection amount was 3.39%, and the increase of land value tax was the biggest. The number of company registrations and total capital amount demonstrated stable growth. The sales revenue of companies grew 7.56%, and the economic performance was remarkable. As for the tourism industry, the hotel occupancy rate of tourists recovered, mostly with Japanese tourists, as well as a slow increase in Chinese tourists. The investment amount of Overseas Chinese and foreigners increased US$2.21 billion compared with the same period in the previous year. Newly established foreign companies increased to 99, and the number of operational headquarters increased to 82. They both ranked at the top among all counties and cities. The number of research centers was maintained at 46, and the sales revenue of the knowledge intensity service industry decreased slightly. The popularity of starting companies by young entrepreneurships slowed down, and the number of companies established demonstrated stable growth. Regarding the industry distribution of startup companies, the major two industries were “wholesale and retail sale industry” and “professional, science, and technological services”, jointly accounting for almost 50%. The force of starting businesses by domestic young entrepreneurs slowed down, and the numbers of new and shutdown businesses fluctuated.

 

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