Month: August 2026

Source: Republic of China Taiwan

President Lai confers decoration on US House Foreign Affairs Committee Chairman Emeritus Michael McCaul
On the morning of August 4, President Lai Ching-te conferred the Order of Brilliant Star with Grand Cordon on Chairman Emeritus Michael McCaul of the United States House Committee on Foreign Affairs in recognition of his long-term dedication and remarkable contributions toward deepening Taiwan-US relations, supporting democratic Taiwan, and upholding peace and stability across the Taiwan Strait. In remarks, President Lai stated that Taiwan will continue to implement national defense reforms, bolster whole-of-society defense resilience, and deepen cooperation with the US in such areas as national defense, the economy and trade, and technology. The president expressed hope that, with Chairman Emeritus McCaul’s support, Taiwan can continue to enhance its relationship with the US, defending peace through even greater strength and fostering prosperity through even closer cooperation.
A translation of President Lai’s remarks follows:
Today, on behalf of the people of Taiwan, I confer upon Chairman Emeritus McCaul the Order of Brilliant Star with Grand Cordon. We thank him for his long-term dedication and remarkable contributions toward deepening Taiwan-US relations, supporting democratic Taiwan, and upholding peace and stability across the Taiwan Strait. This decoration is a sign of our utmost respect and symbolizes the profound friendship between Taiwan and the US.
Chairman Emeritus McCaul is a highly influential leader in the US Congress. Over the years, he has consistently pursued the ideals of peace and staunchly supported democratic partners. In the face of expanding authoritarianism, he has always demonstrated a clear position and bold determination, which is truly admirable. Chairman Emeritus McCaul, the last time we met at the Presidential Office was in 2024, when you led the first US congressional delegation to Taiwan after I took office. At that time, you stated in Mandarin, “We love Taiwan,” and emphasized the US’s strong support. We were deeply grateful and touched by this gesture.
Taiwan and the US share the values of democracy and freedom, and jointly maintain peace and stability in the region. Facing China’s continued expansion of authoritarianism, Taiwan staunchly holds the line of defense for democracy. We strongly believe in peace through strength, and that strength must be built upon the unwavering determination to defend ourselves. Chairman Emeritus McCaul, I would especially like to thank you for long supporting Taiwan’s efforts to strengthen our national defense capabilities. Beyond urging the US administration to accelerate the delivery of military equipment to Taiwan, this year, you and other members of Congress from both parties expressed support for our special defense budget. Such concrete actions fully demonstrate Congress’s firm commitment to Taiwan’s security and are a great encouragement to the people of Taiwan.
Taiwan will continue to implement national defense reforms, strengthen asymmetric capabilities, establish drone defense systems, and bolster whole-of-society defense resilience. We look forward to further deepening cooperation with the US, shifting from solely military procurement to joint research and development and joint production, so as to safeguard peace and stability in the Indo-Pacific region hand in hand.
The Taiwan-US partnership is also expanding rapidly in such areas as the economy and trade as well as technology. Chairman Emeritus McCaul represents Texas, an important energy and technology powerhouse in the US. Last year, Taiwan was Texas’s seventh largest export market. Economic and trade exchanges and industrial cooperation between Taiwan and Texas have already become an important force driving the further growth of Taiwan-US relations.
This year marks the 250th anniversary of the founding of the US and the 30th anniversary of Taiwan’s first direct presidential election. It also marks the 10th Ketagalan Forum, which Chairman Emeritus McCaul and I both attended today. At this special milestone, I want to thank Chairman Emeritus McCaul for having traveled so far to visit us. Thank you for taking action to defend democratic partners, and for always standing with Taiwan.
We sincerely hope that, with Chairman Emeritus McCaul’s support, Taiwan can continue to enhance our relationship with the US, defending peace through even greater strength and fostering prosperity through even closer cooperation.
Chairman Emeritus McCaul then delivered remarks, stating that he is honored to receive the Order of Brilliant Star with Grand Cordon. He noted that the decoration reminds him of Texas, his home state, which is known as the “Lone Star State.” He also reaffirmed his strong support for Taiwan, and thanked President Lai for his leadership and friendship.
Chairman Emeritus McCaul stated that he is present today not as a Republican or a Democrat, but as an American who greatly appreciates the friendship between our two peoples. He then emphasized that Taiwan is proof that democracy works. Recalling his previous visit to Taiwan, when he gifted President Lai a Texas cowboy hat, he noted that he was reminded of the strong values which bind us together. Cowboys embody freedom and resilience, he said, and time will show that the cowboy of the West will always prevail over the authoritarian dragon of the East.
Chairman Emeritus McCaul remarked that there is nothing the Chinese Communist Party (CCP) would love more than to undermine the Taiwan-US partnership and alter US policy. However, he reaffirmed that the policy the US Congress mandated in the Taiwan Relations Act in 1979 remains alive and well, and serves as the absolute foundation of our relationship. Under the Taiwan Relations Act, he continued, the US is required to provide Taiwan with arms of a defensive character, and it is fulfilling this promise. He noted that last December, Congress approved the largest Foreign Military Sales package in history, valued at US$11 billion, and they will not stop there. He expressed confidence that President Donald Trump will soon forward another package to Congress with an additional US$14 billion in critical military defense articles.
Chairman Emeritus McCaul emphasized that it is not US policy to allow its diplomatic relationship with China to tie up arms sales to Taiwan. Following the passage of the Taiwan Relations Act, he added, President Ronald Reagan stated that the US does not consult with the People’s Republic of China (PRC) on arms sales to Taiwan. Our ultimate goal must be deterrence, the chairman said. Noting that he recently returned from the theater of war in Ukraine, he stated that seeing the conflict firsthand drove home a critical point: that drone technology and production are going to be paramount to Taiwan’s survival. He encouraged Taiwan to work with other democratic nations that have successfully innovated to meet the challenges of modern warfare. He also congratulated Taiwan on passing its special defense budget, underscoring the need to bolster Taiwan’s defense and resilience, including cybersecurity, which is just as important as missiles and drones.
The chairman pointed out that the increasing belligerence of the CCP poses a direct threat not only to Taiwan, but to the entire global balance of power. He added that while the US pursues strategies to stabilize its relationship with China, it is clear-eyed about the CCP’s threat and its end game. He then recounted his firsthand experience with the CCP’s intimidation tactics: During his last visit to greet President Lai, who was newly elected as president, the chairman observed an armada of ships and aircraft [sent by China to areas in and around the Taiwan Strait]. He was subsequently sanctioned by the CCP, which he considers a badge of honor in the quest of freedom.
Chairman Emeritus McCaul stated that China is testing its own capabilities and Taiwan’s vulnerabilities in preparation for a potential invasion. However, he said, these intimidation tactics will not prevail. He then echoed President Lai in saying that the Republic of China is not subordinate to the People’s Republic of China. In other words, he said, the CCP’s attempts to force unification will never succeed because, historically, the PRC never has and never will control Taiwan.
Chairman Emeritus McCaul stated that in 1950, General Douglas MacArthur famously called Taiwan an “unsinkable aircraft carrier,” and that remains true today. Taiwan stands as an enduring pillar of freedom in the Indo-Pacific, he said, and will always have a steadfast partner in the United States of America. He concluded his remarks by saying that the US will continue to stand shoulder to shoulder with Taiwan to ensure that peace through strength prevails. He once again thanked President Lai for the award, saying in Mandarin, “I love Taiwan.”
Also in attendance at the ceremony were Eric Frater, acting director of the American Institute in Taiwan Taipei Office, and Pooja Patel, senior legislative assistant to Chairman Emeritus McCaul. 

Source: Hong Kong Information Services

The total value of retail sales in June, provisionally estimated at $31.5 billion, was up 4.6% compared with the same month a year earlier, the Census & Statistics Department said today.

After netting out the effect of price changes over the same period, the provisional estimate of the volume of total retail sales represents a 2.3% year-on-year increase.

Online sales accounted for 9.4% of the total retail sales value in June. Provisionally estimated at $3 billion, the value of this segment rose 11.6% from the same month a year earlier.

The value of sales of jewellery, watches and clocks, and valuable gifts increased 20.1% in June 2026 compared with the same period a year earlier.

There were also increases in the following categories: consumer goods “not elsewhere classified” (up 9.3%); food, alcoholic drinks and tobacco (up 2.5%); clothing (up 0.8%); medicines and cosmetics (up 0.6%); electrical goods and other consumer durable goods not elsewhere classified (up 11.3%); furniture and fixtures (up 5.1%); books, newspapers, stationery and gifts (up 2.6%); and optical items (up 2.1%).

Meanwhile, the value of sales of commodities in supermarkets dropped 1.1% in June compared with the same month in the previous year. This was followed by sales of commodities in department stores (down 4.2%); motor vehicles and parts (down 4.3%); fuels (down 15.3%); footwear, allied products and other clothing accessories (down 1.4%); and Chinese drugs and herbs (down 4.9%).

The Government highlighted that the value of total retail sales increased for the 14th consecutive month in June. Cumulatively, total retail sales value in the first half of the year was 9.6% higher than a year earlier.

Looking ahead, it said that the continuing economic expansion, rising local incomes and a steady increase in inbound visitors are expected to provide support to the sector.

Source: Hong Kong Information Services

The Land Registry logged 6,715 sale and purchase agreements received for registration for all building units in July, a decrease of 28.8% compared with June and down 6.9% year on year.

The total consideration for building unit sale and purchase agreements in July dropped 37.5% from the previous month to $51.7 billion, representing a 5.3% year-on-year decrease.

A total of 4,462 agreements were for residential units, down 41.7% from the previous month and down 22.6% from a year ago.

The total consideration for residential units was $41.9 billion, a decrease of 44.6% compared with the previous month and a drop of 9.6% year on year.

There were 1,466,737 land register searches last month.

Source: Republic of China Taiwan

On the morning of August 4, President Lai Ching-te attended the opening of the Ketagalan Forum: 2026 Indo-Pacific Security Dialogue. In remarks, President Lai stated that as the CCP’s authoritarianism continues to expand, Taiwan will safeguard the values of freedom and democracy, maintain regional peace and stability, and foster global prosperity and development. He also stated that Taiwan will continue to upgrade national defense and build whole-of-society defense and resilience, while connecting with democratic partners to build non-red supply chains. The president emphasized that Taiwan is a beacon of freedom and democracy and a cornerstone of peace in the Indo-Pacific. He expressed hope of continuing ahead, side by side, to protect common values and achieve shared goals. 
Upon arriving at the event, Inter-Parliamentary Alliance on China (IPAC) Co-founder and Executive Director Luke de Pulford outlined the content of the statement issued by IPAC regarding China’s implementation of the Ethnic Unity and Progress Promotion Law before personally presenting a copy of the statement to President Lai.
A transcript of President Lai’s remarks follows:
I sincerely welcome our overseas friends to Taiwan.
This year marks the 10th Ketagalan Forum. In many cultures, the number 10 represents fullness and renewal. So, thank you for making the long trip here, to be with us for this special milestone.
I would also like to thank all the participants and organizers. Since 2017, when the forum was established, we have lived through a changing international landscape. We have also overcome the challenges of the pandemic, when we adopted an online format. But no matter the distance; no matter the challenges, we walked close together because of our shared values and beliefs.
Last month, China implemented the Ethnic Unity and Progress Promotion Law, ignoring international opposition. IPAC immediately released a statement on the law, condemning it as “a flagrant breach of basic fundamental rights.”
I would like to thank IPAC Co-Chair [for Japan] Nakatani [Gen],  Executive Director de Pulford, and all the rest of IPAC for reaffirming that position by their participation today. I am honored to represent the people of Taiwan in expressing our sincere gratitude and support for IPAC’s statement. And we will stand firmly, together with you, to defend global democracy and the rule of law.
I want to emphasize that China’s ethnic unity law infringes upon Taiwan’s sovereignty and persecutes religions and minority groups. But it goes beyond that. By using forms of transnational repression, it imposes political censorship in all parts of the world, creating a chilling effect. The entire international community should come together and staunchly oppose this malicious law.
As the CCP’s authoritarianism continues to expand, red terror is also spreading into every corner of the world. In this context, this year’s forum focuses on global democratic resilience, collective responses to gray zone aggression, and building non-red supply chains. These reflect Taiwan’s global positioning and the international responsibilities we hope to shoulder.
So, as the forum enters a new milestone, I want to tell the world that Taiwan will not waver from its path.
First, we will safeguard the values of freedom and democracy.
Thirty years ago, the people of Taiwan bravely went to the polls, undaunted by China’s missile threats. With our first direct presidential election, voters announced to the world that Taiwan is a democratic country and that the country’s future will be decided by the people of Taiwan. Our democratic success has earned international recognition, and we will not reverse course. 
Against threats from China’s ethnic unity law, Taiwan’s position is clear. We will not accept united front infiltration or red terror. We will not stand by while China tries to extend its reach into Taiwan or any other free nation or region.
We will build stronger systems to prevent, counter, and protect against these threats. We will also deepen our cooperation with friends and allies. Together, we will defend free speech, boost defense and resilience around the world, and uphold the rules-based international order.
Second, we will maintain regional peace and stability.
Recently, the G7 leaders’ statement and a report from the European Parliament both reaffirmed their support for peace and stability across the Taiwan Strait. They also expressed opposition to any unilateral attempts to change the status quo across the strait.
We thank our international partners for their strong focus on peace and stability across the Taiwan Strait. And we will respond with action, based on the principles of collective defense and shared responsibility. We will continue to upgrade our national defense and build whole-of-society defense and resilience. By expanding global cooperation, we will unite our full strength, to secure peace and stability across the Indo-Pacific.
Third, we will foster global prosperity and development.
As the world enters an era of smart technology, Taiwan is promoting AI applications in all sectors. We are also putting focus on three key technologies: silicon photonics, quantum computing, and robotics. Taiwan will be more than a hub for AI infrastructure. Moving forward, we will continue to lead tech development worldwide.
We will also leverage our expertise in AI, semiconductors, and [information and communication technology] to connect with democratic partners. Together, we will deepen our industry and trade ties, and build non-red supply chains. This will make our economies more resilient and our nations more secure and prosperous.
Taiwan is a beacon of freedom and democracy. We are also a cornerstone of peace in the Indo-Pacific. Even in the face of authoritarian threats and emerging global challenges, we will stand firm. We will make sure that this beacon of democracy continues to shine and that the foundation of our freedom stays strong.
Your support is key in powering Taiwan forward. Thank you for taking action for democracy, peace, and prosperity. Let’s continue ahead, side by side, to protect our common values, and achieve our shared goals. Thank you again, and I wish this forum great success. Thank you.
Also in attendance at the event were Prime Minister of the Kingdom of Eswatini Russell Dlamini, United States House Foreign Affairs Committee Chairman Emeritus Michael McCaul, former Prime Minister of Finland Sanna Marin, and former Deputy Prime Minister of Canada Chrystia Freeland. 

Source: Hong Kong Government special administrative region

Source: Hong Kong Government special administrative region – 4

The Government’s first-phase measures to enhance the regulation of licensed money lenders (money lenders) take effect today (August 1), including prohibiting money lenders from requesting borrowers to provide loan referees, and introducing “debt servicing ratio” caps for unsecured personal loans of low-income earners.

With the above measures in place, money lenders are not allowed to request borrowers to provide loan referees, and members of the public need not worry about facing harassment due to acting as a loan referee. Setting “debt servicing ratio” caps – for borrowers with monthly incomes of HK$6,000 or less, the cap is 35 per cent, and for borrowers with monthly incomes from HK$6,001 to HK$12,000, the cap is 40 per cent – will not only protect the public, but also encourage money lenders to grant loans more responsibly, thereby helping to address the issue of excessive borrowing and foster a more healthy market development.

The second-phase measures will be rolled out on June 1 next year, and will include requiring all money lenders engaging in unsecured personal loan businesses to regularly submit personal credit information of their unsecured personal loan borrowers to the Credit Data Smart (CDS). Money lenders will also need to meet specific requirements to join the CDS to obtain personal credit information of borrowers for loan application assessment.

The Financial Services and the Treasury Bureau (FSTB) hopes that the community will continue to support implementation of the measures, with a view to addressing the issue of excessive borrowing via a multipronged approach. The FSTB and the Companies Registry have been maintaining close liaison with the money lending industry, and have provided information and guidance to money lenders in order to ensure the smooth implementation of the measures.

Source: Hong Kong Government special administrative region

Source: Hong Kong Government special administrative region – 4

Two directors of Xtech Lighting System Company Limited and Xtech Engineering Company Limited were prosecuted by the Labour Department (LD) for violating the requirements under the Employment Ordinance (EO). The two directors pleaded guilty at the Shatin Magistrates’ Courts today (August 3) and were fined a total sum of $66,000. The directors were also ordered to pay the employees concerned an outstanding total sum of about $102,000.

The companies wilfully and without reasonable excuse contravened the requirements of the EO, failing to pay two employees’ wages within seven days after the expiry of the wage periods and termination of employment contracts totalling about $123,000, as well as the awarded sums totalling about $117,000 within 14 days after the date set by the Labour Tribunal (LT). The two directors concerned were prosecuted and convicted for their consent, connivance or neglect in the above offences.

“The ruling will disseminate a strong message to all employers, directors and responsible officers of companies that they have to pay wages, termination payments and sums awarded by the LT or the Minor Employment Claims Adjudication Board to employees within the statutory time limit stipulated in the EO,” a spokesman for the LD said.

“The LD will not tolerate these offences and will spare no effort in enforcing the law and safeguarding employees’ statutory rights,” the spokesman added.

Source: Hong Kong Government special administrative region – 4

The China Securities Regulatory Commission (CSRC) and the Securities and Futures Commission (SFC) announced today (August 3) a series of new measures to deepen further the practical co-operation and coordinated development of the two markets, consolidating and enhancing Hong Kong’s status as an international financial centre. The Government of the Hong Kong Special Administrative Region (HKSAR) warmly welcomes the measures.

The Chief Executive, Mr John Lee, said, “The series of measures announced today will support the development and cross boundary financing of enterprises in Hong Kong and the Mainland, and further promote the connectivity between the Hong Kong and Mainland markets through deepening co-operation in indices, futures and exchange traded funds. Under ‘One Country, Two Systems’, Hong Kong enjoys the unique advantage of having strong support from the motherland while being closely connected to the world. As an important bridge in our country’s financial system, Hong Kong will continue to leverage its role in ‘bringing in and going global’, better integrating into and serving the overall development of our country. Hong Kong is proactively aligning with the National 15th Five Year Plan and is working at full speed to formulate our first five-year plan, fostering high quality market development by promoting Renminbi internationalisation and cross boundary capital flows. I sincerely thank the Central People’s Government and relevant authorities for their staunch support for Hong Kong all along. The HKSAR Government will continue to enhance the competitiveness of Hong Kong’s financial markets to consolidate and elevate Hong Kong’s status as an international financial centre, while serving our country’s high-quality financial opening-up and contributing to the long term development of our country’s financial markets.”

The Financial Secretary, Mr Paul Chan, said, “The 10 new measures cover a wide range of areas including cross boundary listings, exchange traded funds, index co-operation, Renminbi-denominated futures products, streamlined applications for Mainland professional qualifications, and strengthened financial regulatory co-operation. They will facilitate Mainland and overseas investors to seize the enormous investment opportunities arising from our country’s steady and high-quality economic development and the building of a modern industrial system, while at the same time consolidating and enhancing Hong Kong’s function as a hub connecting the Mainland market and global capital. These measures will further promote the coordinated development of the two capital markets on a more open, resilient and efficient basis. We sincerely thank the Central People’s Government, relevant authorities and the Mainland regulators for their strong support for Hong Kong, and will work closely with relevant Mainland institutions to expedite implementation of the measures.”

The CSRC and the SFC announced today a series of new measures for further deepening the practical co-operation and coordinated development of the markets of Hong Kong and the Mainland. The HKSAR Government and regulators will actively facilitate the implementation of the measures.