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The flagship 5+2 Industrial Innovation Plan was launched in 2016 to serve as the primary industrial development policy undertaking. The aim of this plan is to transform industrial innovation, moving towards high-value-added, service-oriented and solutions-oriented business models. It envisions achieving industrial innovation, job creation, equitable wealth distribution, and sustainability. (...) Details are briefly outlined below.(...)

• Green Energy Technology Development: A safe, stable, efficient and clean energy supply system that also creates sustainability is considered a way for the Separate Customs Territory of Taiwan, Penghu, Kinmen and Matsu to achieve its vision of a nuclear-free homeland. By 2025, the proportion of domestic power generated by renewable energy and gas is expected to increase to 20% and 50%, respectively, while that by coal generation will be reduced to 30%. We aim to make solar energy and wind energy key components of future green energy development. A testing hub that integrates energy creation with energy saving, energy storage, and system integration technologies has recently been established as an initial step in this direction.(...)

The flagship 5+2 Industrial Innovation Plan was launched in 2016 to serve as the primary industrial development policy undertaking. The aim of this plan is to transform industrial innovation, moving towards high-value-added, service-oriented and solutions-oriented business models. It envisions achieving industrial innovation, job creation, equitable wealth distribution, and sustainability. (...) Details are briefly outlined below.
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• New Agriculture: (...) The strategies, such as (...) encouraging organic and environmentally-friendly farming, promoting green environmental payments on farmland, (...) are being implemented to stabilize farmers' income and make full use of the multi-functional value of agriculture in a sustainable way.

The flagship 5+2 Industrial Innovation Plan was launched in 2016 to serve as the primary industrial development policy undertaking. The aim of this plan is to transform industrial innovation, moving towards high-value-added, service-oriented and solutions-oriented business models. It envisions achieving industrial innovation, job creation, equitable wealth distribution, and sustainability. (...) Details are briefly outlined below.(...)

• Circular Economy: The Separate Customs Territory of Taiwan, Penghu, Kinmen and Matsu is dedicated to establishing a circular economy of supply and demand for energy resources using concepts of recycling and resource efficiency. By 2025, we expect the rate of recycled domestic resources to increase to 17%, and the targets for incineration and landfill reduction to increase to 7% for general waste and 3% for industrial waste treatments, respectively. To reach these goals, we will assist companies in developing and adopting environment-friendly technologies with lower levels of pollution, fewer carbon emissions, greater safety, and higher recyclability in order to realize the circular economy. In the process, we have started the "New Material Recycling Industry Park" project in Dalinpu, Kaohsiung to demonstrate the economic benefits of using fewer resources and establishing a sustainable business. The hope is to create a sustainable circular model by means of well-designed energy and resource links.

The fact that 98% of energy resources are imported indicates the lack of energy self sufficiency in the Separate Customs Territory of Taiwan, Penghu, Kinmen and Matsu. As part of global efforts to reduce greenhouse gas emission following the Paris Agreement, the government has embarked on an energy transition policy to initiate energy transition and reform of the electricity industry, while promoting the development of independent green energy industries to tackle the challenges of rapid changes in various political and economic circumstances.

Our energy transition policy is to become a nuclear-free homeland and raise the proportion of renewable energy generation to 20% by 2025. Based on the precondition of stable energy supply, we anticipate that the remaining 80% of the Separate Customs Territory of Taiwan, Penghu, Kinmen and Matsu's energy will be generated by thermal power plants. To accomplish this, we aim to increase power generation by natural gas-fired plants to 50% and reduce power generation by coal-fired plants to 30%. We are planning to actively develop renewable energy, including solar, wind and geothermal energy. In the meantime, we are promoting conservation to maximize energy efficiency. We are also hastening construction of the new LNG receiving station to increase imports of natural gas, contributing to the decrease of pollution and carbon emissions attributed to thermal plants.

The Separate Customs Territory of Taiwan, Penghu, Kinmen and Matsu also firmly supports the elimination of subsidies contributing to IUU fishing, (...) The Separate Customs Territory of Taiwan, Penghu, Kinmen and Matsu has also actively engaged in various negotiations regarding (...) the Environmental Goods Agreement (EGA) (...) The Separate Customs Territory of Taiwan, Penghu, Kinmen and Matsu is committed to supporting and engaging in future negotiations, with the goals of fulfilling our obligations as a WTO member and contributing to opportunities to develop and enhance a new global trade order.

(...) Using the multilateral mechanism, the Separate Customs Territory of Taiwan, Penghu, Kinmen and Matsu has assisted developing country members with social and economic development. Measures undertaken included donations to international institutions, the establishment of special funds to cooperate with international institutions, and project collaboration with international institutions. In this last regard, the Separate Customs Territory of Taiwan, Penghu, Kinmen and Matsu's International Cooperation and Development Fund maintains cooperation with international development banks, covering education, development of small and medium enterprises, agriculture, and environmental sustainability.

The Separate Customs Territory of Taiwan, Penghu, Kinmen and Matsu fully understands that advancing the integration of developing countries and the LDCs into the global trading system is the key to achieving the 2030 Agenda for Sustainable Development and the 17 Sustainable Development Goals (SDGs). The Separate Customs Territory of Taiwan, Penghu, Kinmen and Matsu is committed to continuing its assistance to developing countries to achieve the United Nations' SDGs by strengthening a diverse range of stable cooperation relationships with aid agencies, international organizations, and international non-governmental organizations that address such critical global issues as reduction of poverty and inequality, while mitigating the challenges of climate change.

(...)Financial sector(...)• The Financial Supervisory Commission (FSC) has relaxed the investment limits for the insurance industry investment futures fund and futures ETF. The measure will increase flexibility in the use of funds in the insurance industry and promote investment efficiency. In 2017, to assist the green industry obtain funds and promote environmental sustainability (...)(...)Fisheries management reform• The Separate Customs Territory of Taiwan, Penghu, Kinmen and Matsu has actively strengthened the legal framework for fisheries management in accordance with international trends and requirements. (...) Through the imposition of heavy fines or criminal sanctions as the main penalties and supplemented with other management actions such as suspension and revocation of fishing licenses, forfeiture of catch, fishing gear and fishing vessels, and clear requirements for the violating vessel to stop fishing and return to a designated port within a given timeframe, as well as imposing additional sanctions to recidivism, the Separate Customs Territory of Taiwan, Penghu, Kinmen and Matsu has succeeded in implementing stronger actions on deterring IUU fishing activities.

4.1. Despite all the current uncertainties in the global trade environment, the Separate Customs Territory of Taiwan, Penghu, Kinmen and Matsu remains committed to maintaining the core values of the WTO and will continue to support the development and expansion of multilateral trade. (...)

To fulfill its commitments, the government is striving to strengthen regulatory transparency, maintain environmental sustainability (...) in accordance with international standards.