The Third Wave Cabinet List Announced! Peng Jinlong Appointed Chairman of the Financial Supervisory Commission
President-elect Lai Ching-te will take office on May 20th, and the prospective Premier, Cho Rong-tai, announced the third wave cabinet list on the morning of April 16th. Six financial and economic department heads were announced in one go, including Minister of Economic Affairs Guo Zhihui, Minister of Digital Development Huang Yannan, Chairman of the National Development Council Liu Jingqing, Chairman of the National Science Council Wu Chengwen, Chairman of the Financial Supervisory Commission Peng Jinlong, and Chairman of the Public Works Commission Chen Jinde.
Cho Rong-tai described these six financial and economic department heads as the “Cabinet of Wisdom and Innovation.” He mentioned that Taiwan plays an important role in the global supply chain, especially in industries such as AI, semiconductors, and information and communication technology. The speed at which Taiwan can grasp technological advancements 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 new Chairman of the Financial Supervisory Commission is Peng Jinlong, the Vice Dean of the College of Commerce 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 Services Roundtable, and is familiar with insurance, financial control, banking, and securities operations. In recent years, he has also been focused on the financial resources of the National Health Insurance.
It is believed that with the domestic insurance industry set to converge with IFRS 17 and TW-ICS by 2026, there will be significant challenges for the capital market. Therefore, the new Chairman of the Financial Supervisory Commission must have a certain level of familiarity with the insurance industry, making Peng Jinlong a suitable candidate.
Cho Rong-tai hopes that Peng Jinlong can promote the advancement of laws in insurance technology, financial regulatory sandboxes, and financial innovation. He also aims to integrate public and private resources to make Taiwan a center for financial technology development in Asia and an Asian asset management center, making Taiwan a model for sustainable finance in Asia.
From left to right: Prospective Premier Cho Rong-tai, Chairman of the Financial Supervisory Commission Peng Jinlong.
Image Source: Democratic Progressive Party YouTube Channel
Minister of Digital Development: Huang Yannan
Huang Yannan, an expert in the field of information and communication technology and the Director of the Information Technology Innovation Center at Academia Sinica, will take charge of the Ministry of Digital Development. He has expertise in cybersecurity, AI, and the Internet of Things, and has served as a consultant for many government departments. He has previously worked as a researcher at renowned international institutions, including AT&T Bell Labs, where 9 researchers have been awarded the Nobel Prize in Physics.
Cho Rong-tai mentioned that Huang Yannan possesses expertise in cybersecurity, communication, and AI, making him a valuable asset for the Ministry of Digital Development. He has also served in the Office of Digital Convergence and the Office of Science and Technology at the Executive Yuan, and has outstanding qualifications in government, industry, academia, and research.
From left to right: Minister of Digital Development Huang Yannan, Prospective Premier Cho Rong-tai.
Image Source: Democratic Progressive Party YouTube Channel
Chairman of the National Science Council: Wu Chengwen
The Chairman of the National Science Council will be Wu Chengwen, the President of Southern Taiwan University of Science and Technology and the Chairman of the National Sports Science Center. He is highly respected in academia, industry, universities, and government units. Cho Rong-tai hopes that Wu Chengwen can lead the country’s scientific research, utilize his interdisciplinary and interdepartmental integration capabilities to support the development of local basic scientific research.
In addition, Wu Chengwen has a unique experience. He was selected for the Tainan Giants Little League team in elementary school and won the World Championship in the United States. However, he did not continue playing baseball, and after graduating from National Taiwan University’s Department of Electrical Engineering, he went to the United States to further his studies and lay the foundation for his academic achievements.
From left to right: Prospective Premier Cho Rong-tai, Chairman of the National Science Council Wu Chengwen.
Image Source: Democratic Progressive Party YouTube Channel
Chairman of the National Development Council: Liu Jingqing
As the important unit responsible for the overall development strategy and innovation of the country, the National Development Council will be led by Liu Jingqing, the former Chairman of PricewaterhouseCoopers (PwC) Consulting Innovation. Liu Jingqing previously served as the General Manager of the IBM Industrial and Commercial Group and the Information Director of China’s largest food company. He has over 30 years of experience in management and digital consulting, and has long been committed to 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 both practical industry experience and professional consulting experience.
Prospective Premier Cho Rong-tai stated that he expects 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 Taiwanese SMEs and multinational industries find the key to survival and success, implement industrialization of AI, and create an innovative and entrepreneurial ecosystem.
Prospective Chairman of the National Development Council, Former Chairman of PricewaterhouseCoopers (PwC) Consulting Innovation Liu Jingqing.
Image Source: Photographed by Cai Renyi
Minister of Economic Affairs: Guo Zhihui
Guo Zhihui, the Chairman of the Chong Yu Group, will be the Minister of Economic Affairs. As a figure in the semiconductor industry, he will be responsible for continuously strengthening the development of Taiwan’s semiconductor industry and enhancing its important role in the global market.
Prospective Premier Cho Rong-tai stated that Chong Yu Technology has long been deeply involved in the semiconductor and solar photovoltaic fields. He expects Guo Zhihui to leverage his extensive knowledge and network. Furthermore, he hopes that the future Ministry of Economic Affairs can ensure stable power supply and further develop diverse green energy sources.
Prospective Minister of Economic Affairs, Co-founder of Chong Yu Technology Guo Zhihui.
Image Source: Photographed by Cai Renyi
Chairman of the Public Works Commission: Chen Jinde
Former Chairman of CPC Corporation, Taiwan and Acting Magistrate of Yilan County, Chen Jinde, will become the Chairman of the Public Works Commission of the Executive Yuan.
Prospective Premier Cho Rong-tai stated that Chen Jinde has previously served as a National Assembly representative and Acting Magistrate of Yilan County. He is skilled in communication and has promoted energy transformation during his tenure as Chairman of CPC Corporation, Taiwan. Additionally, Chen Jinde traveled throughout Taiwan during the election period, gaining a deep understanding of grassroots sentiments and demonstrating his communication skills. Cho Rong-tai looks forward to Chen Jinde improving the quality and efficiency of public works and achieving the goal of balanced development in Taiwan.
From left to right: Prospective Premier Cho Rong-tai, Chairman of the Public Works Commission Chen Jinde.
Image Source: Democratic Progressive Party YouTube Channel
Edited by: Su Rouwei