The List of the Third Wave of Cabinet Members Revealed! Peng Jinlong Appointed as Chairman of the Financial Supervisory Commission
President-elect Lai Ching-te will take office on May 20th. The prospective Premier, Cho Rong-tai, announced the list of the third wave of cabinet members on the morning of April 16th, revealing six financial and economic department heads. These include Minister of Economic Affairs Guo Zhihui, Minister of Digital Development Huang Yannan, Chairman of the Council for Economic Planning and Development Liu Jingqing, Chairman of the National Science Council Wu Chengwen, Chairman of the Financial Supervisory Commission Peng Jinlong, and Chairman of the Public Construction Commission Chen Jinde.
Cho Rong-tai referred to these six financial and economic department heads as the “wise and innovative” cabinet. He mentioned that Taiwan plays an important role in the global supply chain, especially in industries such as AI, semiconductors, and information and communications. The speed at which Taiwan masters the use of technology in the future will determine the speed of the country’s growth. Here is a summary of the background information of the six financial and economic department heads.
Chairman of the Financial Supervisory Commission: Peng Jinlong
The newly appointed Chairman of the Financial Supervisory Commission is Peng Jinlong, the Vice Dean of the School of Business at National Chengchi University and a professor of insurance. He has served as a director of life insurance companies and the Deputy Secretary-General of the Financial Association. He is familiar with insurance, financial control, banking, and securities operations, and in recent years, he has also focused on the financing of the National Health Insurance.
It is believed that as domestic insurance companies are about to converge with IFRS 17 and TW-ICS by 2026, this poses a great challenge to the capital market. Therefore, the newly appointed Chairman of the Financial Supervisory Commission must have a certain familiarity with the insurance industry, making Peng Jinlong the suitable candidate.
Cho Rong-tai hopes that Peng Jinlong will promote the advancement of laws and regulations in insurance technology, financial regulatory sandboxes, and financial innovation, integrate public and private resources, and make Taiwan the center for financial technology development and asset management in Asia, setting an example for sustainable finance in Asia.
Minister of Digital Development: Huang Yannan
The Ministry of Digital Development will be taken over by Huang Yannan, an expert in the field of information and communications in Taiwan and the Director of the Information Technology Innovation Research Center at Academia Sinica. He has expertise in cybersecurity, AI, and the Internet of Things, and has served as a consultant for many government departments. In the past, he worked as a researcher at renowned international institutions, including AT&T Bell Labs, where nine researchers have received the Nobel Prize in Physics.
Cho Rong-tai mentioned that Huang Yannan possesses expertise in cybersecurity, communications, and AI, making him a valuable asset to the Ministry of Digital Development. He has also served in the Office of Digital Convergence and the Office of Science and Technology of the Executive Yuan, and his experiences in industry, government, academia, and research are outstanding.
Chairman of the National Science Council: Wu Chengwen
Wu Chengwen, the President of Southern Taiwan University of Science and Technology, will assume the role of Chairman of the National Science Council. He is also the Chairman of the National Sports Science Center and is highly respected in academia, industry, universities, and government units. Cho Rong-tai hopes that Wu Chengwen will lead the domestic scientific research and utilize his interdisciplinary and interdepartmental integration capabilities to support the development of local basic scientific research.
In addition, Wu Chengwen also has a special experience. He was selected for the Tainan City Giant Little League Baseball Team in elementary school and won the World Championship in Williamsport, USA. However, he did not continue playing baseball and went to the National Taiwan University to pursue further studies, laying the foundation for his academic achievements.
Chairman of the Council for Economic Planning and Development: Liu Jingqing
As an important unit for the overall development strategy and innovation of the country, the Council for Economic Planning and Development will be taken over by Liu Jingqing, the former Chairman of PwC Consulting. Liu Jingqing has served as the General Manager of IBM’s Business and Industry Group and the Information Officer of China’s largest food company. He has more than 30 years of experience in management and digital consulting, specializing in providing strategic consulting, process optimization, digital strategy, transformation, and information system implementation services for the retail, consumer goods, and electronics industries. He is one of the few experts in the industry with practical industry experience and professional consulting experience.
Cho Rong-tai, the prospective Premier, expressed his expectations for Liu Jingqing to effectively manage and assess the implementation of major national construction projects. In the era of AI, Liu Jingqing is expected to help Taiwan’s small and medium-sized enterprises and multinational industries find the key to survival and success, promote the industrialization of AI, and create an innovative and entrepreneurial ecosystem.
Minister of Economic Affairs: Guo Zhihui
The Ministry of Economic Affairs will be headed by Guo Zhihui, the Chairman of the Chongyue Group. As a person in the semiconductor industry, he will be responsible for continuously strengthening the development of Taiwan’s semiconductor industry and enhancing its important position in the global market.
Cho Rong-tai mentioned that Chongyue Technology has long been deeply involved in the semiconductor and solar photovoltaic fields. He looks forward to Guo Zhihui leveraging his extensive knowledge and extensive network. He also expects the Ministry of Economic Affairs to ensure stable power supply and further develop diverse green energy.
Chairman of the Public Construction Commission: Chen Jinde
Chen Jinde, the former Chairman of CPC Corporation, Taiwan and the former Acting County Magistrate of Yilan County, will assume the position of Chairman of the Public Construction Commission of the Executive Yuan.
Cho Rong-tai stated that Chen Jinde has served as a representative of the National Assembly and the Acting County Magistrate of Yilan County. He is skilled in communication and has promoted energy transition during his tenure as Chairman of CPC Corporation, Taiwan. In addition, Chen Jinde traveled throughout Taiwan during the election period, gaining a deep understanding of grassroots sentiment and displaying his communication skills. Cho Rong-tai expects Chen Jinde to improve the quality and efficiency of public construction and implement the goal of balancing Taiwan.
Responsibility Editor: Su Rouwei