summaryofcurrenteconomicdynamics

Summary of Current Economic Dynamics

Taiwan Medical & Biotech Talent Market Report

Author: doudou (HRnetGroup) & PeopleSearch

This article on Taiwan’s medical & biotech talent market covers key function salary benchmarks, APAC city talent indicator comparisons, emerging field talent demand trends in Asia, and Taiwan’s talent advantages and challenges.

Introduction

Taiwan’s medical and biotech industries are expanding rapidly, driving strong demand for talent and dynamic market changes. This article provides an in-depth examination of Taiwan’s talent market in the medical and biotech sector.

It covers key functional roles with job descriptions and median salaries, compares Taiwan’s talent indicators with those of major Asia-Pacific cities, and reviews talent demand trends in emerging fields such as precision medicine, rare diseases, and digital health in Asia. In addition, the report discusses Taiwan’s talent advantages and challenges.

These insights aim to enhance Taiwan’s international competitiveness as a hub for medical and biotech talent.

1. Key Functions: Roles and Salary Overview

The talent needs in Taiwan’s biotech and pharmaceutical industry are concentrated in several core functional areas, including Commercial (sales & marketing), Medical Affairs, Market Access, Clinical Operations, Regulatory Affairs, as well as clinical development roles like Biostatistics and Data Management.

Below we describe these key functions’ primary responsibilities and typical salary levels in Taiwan (based on multinational pharma company standards) to help employers and candidates understand the market value of each role:


The plot shows the distribution of total annual pay for different roles/levels within each function, with the median indicated by the red line.

Commercial
The Commercial function oversees the end-to-end process of bringing pharmaceutical innovations to market, including marketing strategy, product management, and sales leadership. According to PeopleSearch, a Business Unit Manager earns a median annual package of around NT$3.2 million, a Sales Manager about NT$2.4 million, and a senior Product Manager around NT$2.1 million, while entry-level sales representatives (specialists) are about NT$1.5 million. Top executives like General Managers see median salaries up to NT$8.5 million. Overall, because the commercial function directly drives revenue, its compensation is among the higher tiers across functions.

Medical Affairs
The Medical Affairs team acts as the scientific ambassador for pharmaceutical products, bridging R&D and the commercial side. In Taiwan’s multinational pharma companies, a Medical Director earns a median annual package of roughly NT$5.0 million, a Medical Advisor (physician) about NT$3.0 million, a Scientific Advisor around NT$2.4 million, and a Medical Science Liaison about NT$1.5 million. Medical Affairs is a high-barrier field (often requiring MD or PharmD/PhD credentials), and thus its salaries rank among the top in the industry.

Market Access
The Market Access function focuses on drug pricing, reimbursement, and market entry strategy. Market Access is a highly specialized and increasingly in-demand area, with correspondingly attractive compensation in Taiwan. Industry data shows a Market Access Manager’s median annual salary around NT$2.3 million, and a Market Access Director around NT$4.3 million. Given the scarcity of talent skilled in health economics and government affairs, companies offer competitive packages for these roles. Notably, market access positions also command premium pay across other Asian markets.

Clinical Operations
The Clinical Operations team plans and executes clinical trials to ensure smooth progress of new drug development. In Taiwan, salaries in clinical operations increase with experience. A Clinical Project Manager has a median annual pay around NT$2.4 million, a senior Clinical Research Lead/Director about NT$4.2 million, and an entry-level CRA around NT$1.2 million. Compared to laboratory R&D roles, clinical operations salaries are mid-to-high range. Talent with experience in international multi-center trials commands especially competitive pay.

Regulatory Affairs
Regulatory Affairs professionals liaise with health authorities (such as Taiwan FDA) to ensure that drug development, registration, and commercialization comply with all regulations. Regulatory Affairs is a high-skill, mission-critical function. In Taiwan’s MNC pharmas, a Regulatory Affairs Specialist earns around NT$1.1 million median annually, a RA Manager about NT$1.8 million, and a RA Director about NT$3.4 million. Given the importance of compliance, experienced RA professionals are in short supply and enjoy steady salary growth. With the rise of novel therapies and global collaboration, keeping abreast of international regulations further increases the market value of regulatory talent.

Clinical Development Support: Biostatistics & Data Management
Biostatisticians and Statistical Programming Managers design the statistical aspects of trials, analyze data, and interpret results to ensure studies have sufficient power to demonstrate drug efficacy. In Taiwan’s pharma sector, statistics and data management experts work behind the scenes but command competitive pay comparable to other functions. At MNCs, a Statistical Programming Manager’s median annual salary is around NT$1.5 million, a Biostatistics Manager about NT$1.8 million, a Biostatistician around NT$1.6 million, and a Clinical Data Manager approximately NT$1.5 million. The talent pool in this field is relatively small – especially those versed in both advanced statistics and medical knowledge – making such professionals highly sought-after across Asia. Their compensation is competitive and expected to rise as demand grows.

Functional Integration Trend: Convergence of Traditional Roles
In today’s pharma organizations, there is a clear trend toward functional integration, where traditional siloed roles are converging into more hybrid positions. For example, some global companies are restructuring and redefining roles in sales and marketing: the classic Medical Sales Representative role has evolved into a “Patient Journey Partner,” who oversees the end-to-end patient experience and resource coordination in a therapeutic area. Similarly, the traditional Marketer role has shifted to a“Strategy Manager,” with greater emphasis on strategic planning and cross-functional collaboration. These intuitive title changes demonstrate that companies want employees with a broader skill set and agility to navigate fast-changing markets and technologies.

2. APAC Major Cities: Talent Indicator Comparison

To assess the competitiveness of Taiwan’s biotech talent market, we must view it in the broader Asia-Pacific context. In this section, we compare Taiwan with seven major APAC cities – Singapore, Seoul, Tokyo, Shanghai, Hong Kong, Bangkok, and Kuala Lumpur – using four key talent metrics: median salary for core roles (MNC standard), R&D expenditure in medical/biotech as a percentage of GDP, overall operating cost level (incl. rent, labor, compliance), and visa ease & attractiveness to foreign talent. The comparison highlights Taiwan’s strengths and weaknesses relative to other leading regional hubs.


This radar chart contrasts Taipei (Taiwan) against Singapore, Hong Kong, Tokyo, Seoul, Shanghai, Bangkok, and Kuala Lumpur across four dimensions. Higher values toward the outer edge indicate stronger performance on that metric.

3. Talent Demand Trends in Asia’s Emerging Focus Areas

In recent years, Asian countries have been ramping up efforts in precision medicine, rare diseases, and digital health, making these emerging fields the new frontiers of talent demand. The COVID-19 pandemic’s challenges have, in part, accelerated growth in these areas: after reaping significant gains in vaccines, therapeutics, and diagnostics, big pharma companies are reallocating resources towards precision therapies and orphan drugs; at the same time, adoption of digital health technologies has surged, attracting substantial investment. Consequently, there is a surging demand for highly skilled, interdisciplinary talent in these fields—and a notable gap in supply.

In this section, a heatmap summarizes the intensity of talent demand and the degree of talent shortages in the three aforementioned domains across key Asian markets.


This matrix evaluates the talent demand intensity and shortage level for three fields. Red-tinted numbers indicate higher demand and larger talent gaps, reflecting each market’s focus and talent supply status.

Talent demand for Digital Health is very high across Asia (scoring 4–5 in most markets). This reflects the rapid expansion of digital health ecosystems—telemedicine, health data analytics, AI diagnostics, and more. However, professionals who possess both healthcare domain knowledge and data technology skills are relatively scarce, leading to significant talent gaps in many countries.

Precision Medicine is another field facing acute talent shortages, especially in countries like China, Singapore, Japan, and South Korea that are heavily investing in genome sequencing and targeted therapies. These nations are challenged to rapidly grow their pool of genomic and bioinformatics experts to support ambitious R&D initiatives. For example, China launched a precision medicine initiative in 2016 with a planned investment of around US$9 billion by 2030, spurring a surge in demand for genomics and cell therapy researchers; the shortage of qualified personnel has already become a bottleneck in these efforts.

In the Rare Diseases arena, demand intensity is slightly lower than the above two but is rising. With multinationals like Amgen, AstraZeneca, and Pfizer aggressively expanding into rare disease therapies via acquisitions, APAC countries are now paying more attention to orphan drug R&D and regulatory expertise. Some countries (e.g. Japan, Korea) have launched rare disease programs and, although their talent base in this niche is small, they are ramping up training; China and Taiwan, due to large populations and policy support, are also seeing growing needs for talent in rare disease clinical trials and development.

Taiwan’s Outlook

These emerging fields represent both opportunities and challenges for Taiwan.

In digital health, Taiwan can leverage its strong ICT industry to integrate tech with healthcare (for example, developing smart hospitals and health management platforms), and talent development in this area can benefit from the country’s solid IT talent base. However, there is still a dearth of professionals adept in both healthcare and technology, calling for enhanced biomedical informatics programs and industry-academic collaboration. In precision medicine, Taiwan has a favorable clinical trial environment and rich biobank resources to invest in cancer genomics and targeted therapy studies, but it urgently needs specialists in bioinformatics, clinical genetics, and related areas. In the rare diseases field, Taiwan has introduced regulatory incentives for orphan drugs, encouraging companies to develop and bring in treatments for rare conditions. Consequently, demand will grow for talent well-versed in global orphan drug regulations and clinical trial design for small patient populations.

Overall, if Taiwan can proactively build its talent pipeline in these three areas (e.g., establishing interdisciplinary graduate programs and attracting overseas talent back home) and strengthen academia-industry-government collaboration, it can secure a solid position in Asia’s emerging healthcare industries.

Powering Taiwan’s AI Future: Navigating Grid Challenges with Smarter Energy Solutions

Taiwan is entering a new phase of technological growth, driven by the rapid rise of AI data centers. These facilities are crucial for cloud services, generative AI, and big data processing, but their immense power demands challenge Taiwan’s electric grid and sustainability goals.

Electricity use from AI-related activities is projected to grow nearly tenfold—from 240 MW in 2023 to over 2,200 MW by 2028—driven by tech giants like AWS, Nvidia, and Foxconn. As Northern Taiwan faces grid constraints, new AI hubs are shifting toward the south where renewable energy is more accessible.

To meet these demands, the government launched a NT$564.5 billion (US$18 billion) 10-year power grid resilience plan led by Taipower, involving substation upgrades, transmission reinforcements, and smart grid adoption.

The nuclear phase-out by 2025 adds further pressure. Without nuclear power, Taiwan must increasingly rely on renewables, LNG, and energy storage, which is complicated by land and infrastructure limitations. Strong public-private collaboration and rapid permitting are essential.

Taiwan is integrating solar and geothermal energy. For example, Google’s 100 MW solar plant and 10 MW geothermal agreement support its operations. However, the intermittent nature of these sources requires enhanced energy storage and grid upgrades to ensure stability.

Modernizing substations and building large-scale battery energy storage systems (ESS) are key to improving flexibility and reliability—storing excess power during off-peak and releasing it when needed.

New data centers are expected to achieve PUE (Power Usage Effectiveness) below 1.2, relying on efficient cooling, smart energy management, and optimized power distribution to reduce strain on the grid and cut costs.

To enhance resilience, many centers adopt on-site generation such as solar, geothermal, and fuel cells, minimizing transmission loss and improving energy independence. Temporarily, gas-powered gensets are used as backup, but will phase out as renewables scale.

A holistic energy strategy—combining renewables, storage, and high-reliability backup—supports Taiwan’s goals of low-carbon growth, grid stability, and AI innovation leadership. Success depends on collaboration among government, energy providers, and tech players. Companies like ABB contribute vital technologies such as high-efficiency UPS, PCS, and ESS.

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The Rise of Edge AI: Powering Taiwan’s Next-Generation On-Device AI Applications

With the rapid advancement of generative AI technologies, edge computing is emerging as the next major battlefield. The shift from cloud-based to edge-based AI processing not only introduces new challenges but also creates unprecedented development opportunities for Taiwan’s tech industry—especially in areas such as IoT, smart homes, automotive systems, robotics, and industrial automation. Deploying AI models on the edge has become a critical factor in driving industrial transformation.

In contrast to early computer vision models with roughly 100 million parameters, today’s generative AI models often exceed 7 billion or even tens of billions of parameters, making edge deployment exponentially more difficult. This growth brings two key issues: computational bottlenecks for encoder models and limited memory bandwidth for decoder models. Multi-modal models, processing voice, images, and text simultaneously, further push the limits of traditional hardware with their demanding architectures.

Edge AI devices must also drastically reduce power consumption, as single AI queries in cloud environments can consume hundreds of watts. This has sparked a trend toward model miniaturization and energy-efficient computation.

Taiwan-based innovator Edge Force has addressed these challenges by developing ultra-efficient AI circuits and compressing cloud-scale models by 90% for edge deployment—while maintaining over 99% accuracy with 2–4-bit precision. Their complete toolchain includes training, conversion, quantization, compression, and deployment—making edge AI more accessible to enterprises across industries.

The demand for Small Language Models (SLLMs) is booming, particularly in smart appliances and manufacturing. Edge Force’s low-latency speech-to-speech AI IP is helping transition human-machine interfaces from button-based to voice-driven interactions—transforming devices like washing machines, industrial consoles, and more.

As Ethan Wu, CEO of Edge Force, says, successful Edge AI solutions focus on targeted applications with optimal performance and cost, rather than generalized platforms. In this fragmented market, Taiwan’s mid-sized chipmakers have a real opportunity to lead by delivering specialized, efficient ASICs.

With Taiwan’s robust semiconductor supply chain and flexibility in AI deployment, the country is uniquely positioned to lead the Edge AI movement. Continued investment in R&D, talent development, and vertical integration will cement its role in the global AI economy.

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Why Networks matters for Energy Transition: Wireless AMI and Innovative Wireless Solutions

Advanced Metering Infrastructure (AMI) represents a significant leap in the digital transformation of energy management systems. It integrates hardware, software, and communication technologies to enable utilities and consumers to measure, collect, and analyze energy consumption data in real time. The core components of AMI include smart meters, communication networks, Meter Data Management Systems (MDMS), and data analytics platforms. This system is fundamental in optimizing energy use, reducing costs, and improving the reliability of power delivery.

 

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Achieving Global Net Zer: Deployment of Marubeni towards the global Net Zero Trend

The global net-zero emissions target has emerged as a critical strategy to combat climate change and is a shared responsibility among governments, businesses, and civil society. To achieve this ambitious goal, countries are pushing for energy transitions, reducing carbon emissions, and seeking a balance between economic growth and environmental protection. However, the path to net-zero emissions is fraught with challenges, ranging from technological limitations and financial demands to regulatory hurdles and societal acceptance.

 

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Integrating Technology and Innovative Teaching: The Key to Advancing Taiwan`s 2030 Bilingual Policy

As globalization and cross-border cooperation become the norm, the demand for bilingual professionals continues to rise. Taiwan is actively promoting the "2030 Bilingual Policy" to enhance its citizens` English proficiency, strengthen international competitiveness, and attract foreign investment.

 

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20241001

At the beginning of 2024, the World Economic Forum (WEF) took place as scheduled in Davos, Switzerland. This prestigious summit gathered global political and business leaders, as well as top experts, to discuss the most critical global issues of our time. This year, Artificial Intelligence (AI) was undoubtedly the most prominent topic of discussion. Whether in formal sessions or various side events, AI dominated the conversation, prompting senior executives to reassess the true potential and future challenges of this transformative technology.

 

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20241001

The industrial sector is undergoing a profound transformation, powered by the winds of the fourth industrial revolution, primarily driven by AI-led DeepTech innovations. The progression through previous industrial revolutions has showcased exponential increases in global GDP per person. As depicted in historical data trends, each revolution has led to significant economic growth, indicating that the onset of AI could accelerate this trajectory even more dramatically.

 

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2024 Q1

According to EIU, IMF, OECD and other institutions to observe the economic growth forecast for the world`s major economies in 2024: U.S. real GDP will grow by 2.4%, Japan`s real GDP will grow by 1.4%, China`s real GDP will grow by 4.7%, the real GDP of the euro area will grow by 1.1%.

 

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2023 Q4

According to EIU, IMF, OECD and other institutions to observe the economic growth forecast for the world`s major economies in 2024: U.S. real GDP will grow by 2.4%, Japan`s real GDP will grow by 1.4%, China`s real GDP will grow by 4.7%, the real GDP of the euro area will grow by 1.1%.

 

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2023 Q3

According to EIU, IMF, OECD and other institutions to observe the economic growth forecast for the world`s major economies in 2023: U.S. real GDP will grow by 2.4 %, Japan`s real GDP will grow by 2.0%, China`s real GDP will grow by 5.6%, the real GDP of the euro area will grow by 0.9%.

 

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2023 Q2

According to EIU, IMF, OECD and other institutions to observe the economic growth forecast for the world`s major economies in 2023: U.S. real GDP will grow by 1.8 %, Japan`s real GDP will grow by 1.4%, China`s real GDP will grow by 5.6%, the real GDP of the euro area will grow by 0.9%.

 

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2023 Q1

According to EIU, IMF, OECD and other institutions to observe the economic growth forecast for the world`s major economies in 2023: U.S. real GDP will grow by 1.6 %, Japan`s real GDP will grow by 1.8%, China`s real GDP will grow by 6.1%, the real GDP of the euro area will grow by 0.9%.

 

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2022 Q4

According to EIU, IMF, OECD and other institutions to observe the economic growth forecast for the world`s major economies in 2023: U.S. real GDP will grow by 1.4 %, Japan`s real GDP will grow by 1.8%, China`s real GDP will grow by 5.2%, the real GDP of the euro area will grow by 0.7%.

 

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2022 Q3

According to EIU, IMF, OECD and other institutions to observe the economic growth forecast for the world`s major economies in 2022Q3: U.S. real GDP will grow by1.8%, Japan`s real GDP will decline by 1.2%, China`s real GDP will grow by3.9%, the real GDP of the euro area will grow by 2.1%.

 

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2022 Q2

According to EIU, IMF, OECD and other institutions to observe the economic growth forecast for the world`s major economies in 2022Q2: U.S. real GDP will grow by1.6%, Japan`s real GDP will decline by 2.2%, China`s real GDP will grow by 0.4%, the real GDP of the euro area will grow by 4.0%.

 

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2022 Q1

According to EIU, IMF, OECD and other institutions to observe the economic growth forecast for the world`s major economies in 2022Q1: U.S. real GDP will grow by 3.5% , Japan`s real GDP will decline by 1.0%, China`s real GDP will grow by 4.8% , the real GDP of the euro area will grow by 5.1%.

 

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2021 Q4

For the whole 2021, real GDP grew by 6.45%.The export order volume reached a new high of US$ 674.13 billion, a year-on-year increase of 26.32%.The export trade value reached a new high of US$ 446.448 billion, a year-on-year increase of 29.36%. The industrial production index and manufacturing industry production index climbed to 131.48 and 133.62, respectively. This represents a year-on-year rise of 13.22% and 14.06%.

 

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2021 Q3

According to EIU, IMF, OECD and other institutions to observe the performance of economic data in the third quarter of 2021: the annual GDP growth rate of the United States was 2.0 % , Japan's annual GDP growth rate declines by 3.6%, the annual GDP growth rate of the China was 4.9% ,the annual GDP growth rate of the Eurozone was 3.7%.

 

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2021 Q2

Key domestic economic indicators for the second quarter of 2021:The real economic growth rate (GDP) is 7.43.The export order volume rose by 35.92% to hit the second highest of US$ 160.957 billion. The export trade value reached a new high of US$ 108.972 billion, a year-on-year increase of 37.35%. The industrial production index and manufacturing industry production index climbed to 129.23 and 131.08, respectively. This represents a year-on-year rise of 16.50% and 17.61%.

 

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2021 Q1

Comprehensive analysis of the International Economic Outlook, Taiwan Economic Overview, and Taipei Econ Overview in the 2021Q1.

 

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2020 Q4

Comprehensive analysis of the International Economic Outlook, Taiwan Economic Overview, and Taipei Econ Overview in the 2020Q4.

 

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2020 Q3

When the world is shrouded in the gloom of the new crown pneumonia epidemic and the US-China trade war, the competitiveness of our country due to manufacturers' leading advantages, Taiwanese businessmen returning to expand production capacity, government implementation of revitalization measures, industry promotion strategies have worked, and the defense epidemic of Taiwan has achieved remarkable results. People and economy are as usual, thus offsetting the adverse impact of the general environment, the economic performance in the third quarter came to the fore, with GDP growth of 3.92%. In addition to the increased consumption of Chinese in Taiwan, which boosted the performance of commercial operations, the ban on chip trade under the US-China trade war has also improved the performance of related products in Taiwan, especially in production and foreign trade. However, whether the economic performance of Taiwan foreign trade can be sustained after the ban has passed is worthy of attention.

 

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2020 Q2

Affected by factors such as the COVID-19 pandemic, falling prices of raw material, and the US-China trade war, the global economy has continued to slump. However, due to the remarkable success of pandemic control within, all industrial activities remain as usual.Furthermore, the strong competitive advantages of Taiwanese manufacturers, the booming business opportunities and the increasing demand for emerging technology applications such as 5G communications; and the continuous increase in production capacity of Taiwanese businessmen…etc. All the factors cause this offset of environmental shocks, therefore, the GDP in the second quarter fell only slightly by 0.58%. In addition to changing people's consumption habits, the pandemic has also prompted businesses to expand e-commerce. Under current circumstances, the expansion of channels will continue to create more business opportunities for businesses in post-pandemic era.

 

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2020 Q1

Due to the COVID-19 pandemic, each country have implemented epidemic control, which has led to the decline of global production and consumption, raw material prices slumped during the global recession. Fortunately, our country has achieved remarkable results in defensing epidemic. Domestic production actutivies are as usual. In addtion, the rise of long-distance business opportunities, the increase of the emerging technology like 5G communications have enlarged the export of electronic components, ICT and audiovisual products. It partially reduced the impact of this wave of global economic contraction on our country.

 

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2019 Q4

As impacted by the weak global economy and the US and China trade conflict, our external trade was retrenched continuously in 2019. The foreign sales order was decreased by 5.33% and the total export value was 1.4%, which decreased yearly. Industrial productivity was also insufficient, with an annual decline of 5.33%. The demand for purchase was weak regarding the wholesale industry while eCommerce and restaurant expansion moderated the decline of the retail sales industry. The annual turnover regarding overall wholesale, retail sales, food, and beverages decreased by 0.51%. However, the labor market was stabilizing, with an unemployment rate of 3.73%. The employee turnover rate was 2.29% and the consumer price was stable while the financial market was active, presenting a CPI increase of 0.56% and an annual M2 growth rate of 4.53%. Overall, the domestic economy was weak and the economic growth rate was 2.71%.

 

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2019 Q3

The economic growth rate was 2.99% in Q3 2019, and the overall economic performance showed stable growth. Due to US and China trade friction, global prosperity is slowing down. Furthermore, international raw material prices were mostly declining, with physical commodity and service output growth representing slow growth, while private consumption grew 2.28%. The amount of overseas sales order of US126.1 billion indicated a 5.4% annual decrease; the industrial production index was 113.15, representing a 1.77% annual growth on the rebound. The external trade amount demonstrated negative growth, and the 0.37% annual decrease of the overall wholesale, retail sales, and restaurant turnover. The labor participation rate was 59.29%, and the unemployment rate was 3.84%, maintaining the stability of the overall labor market. CPI annual growth was 0.41%, with the price remaining stable while the financial transactions were hot.

 

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2019 Q2

The economic growth rate was 2.40% in Q2 in 2019 and the overall economic performance was in stable growth. Due to the trade tensions between the US and China, while global prosperity has decreased. However, with production moving back home and the order transfer effects, the export of integrated circuits has improved. Meanwhile, the products and services export grew by 4.13% with a recovery shown in the increase in the scale of growth while the private consumption grew by 1.55%. The number of overseas orders amounted to US$114.88 billion with a 4.7% decrease, annually. The industrial production index was 106.58 with a 0.58% YOY decrease, while the scale of the decrease has been reduced. The external trade amount has grown with the export amount of US$81.906 billion, still presenting a negative amount. The annual decrease in the overall turnover of wholesale, retail sale, and restaurant sale was 1.4% and the decline was reduced. With the labor participation rate at 59.09% and unemployment at 3.69%, the overall labor market remains stable. The annual growth of CPI was 0.82%, representing a stable consumer price and active financial trades.

 

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2019 Q1

The economic growth rate was 1.71% in Q1 2019, and the overall economic performance grew stably. Since global prosperity has slowed, the purchase of mobile communication products has decreased, the semi-conductor is under inventory adjustment, and the commodities and service output growth was only 0.97%, presenting a slower increase, while the consumption grew 1.32%. The overseas order amount was US$107.98 billion, which was an annual decrease of 8.4%; the industrial production index was 99.07, an annual decrease of 4.58%. Positive growth for 10 consecutive quarters ended. The external trade amount showed negative growth with an export amount of US$76.364 billion. The overall turnover of wholesale, retail sale, and restaurant decreased 1.12% annually, and purchasing slowed. The labor participation rate was 59.08%, unemployment rate was 3.68%, and the overall labor market has remained stable. The annual growth of CPI was 0.33%, the price has remained stable, and financial transactions were active.

 

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2018 Q4

The annual economic growth rate was 2.63% in 2018, and the overall economy showed stable growth. Due to a slowdown in global prosperity and smart phone sales being less than expected, the products and services export grew 1.29%, and the increase was slow. Private consumption grew 1.67%. The export order amount was US$511.82 billion, with annual growth of 3.9%. The industrial production index was 108.33, with annual growth of 3.65%, a new record high. The trade amount maintained stable growth, and the annual export amount was US$336.05 billion. The annual growth regarding the turnover of wholesale, retail sale, and restaurant industries was 3.49%, which was also a new record high. The labor force participation rate was 58.99%, while unemployment was 3.71%, indicating a continuously stable labor market. The 1.35% annual growth of CPI represented a stable price and slow financial transactions.

 

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2018 Q3

Compared with the same period in the previous year, the economic growth rate in 2018 Q3 was 2.27% according to preliminary calculations. Benefitting from stable global economic growth, continuously active emerging technology applications, and high crude oil prices, the export of products and services grew 1.21%. The export order amount was US$133.33 billion, with an annual growth 6.31%, a new record high for that period. The industrial production index was 111.12, with annual growth of 2.39% and slower increase. The trade amount maintained stable growth, and the annual export growth was 3.07 and 13.99% growth in terms of imports. The annual growth regarding the turnover of wholesale, retail sale, and restaurant industries was 3.56%. The employment rate increased 0.73%, while the unemployment rate of 3.81% showed stable and mild improvement. The annual growth of the consumer price index was 1.67%, representing a stable price, and the total monetary amount appeared as a gold cross.

 

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