February 16, 2018

China’s Hong Kong Supreme Court overturned the sentence determined in its second trial and agreed to a suspended sentence determined in the first trial in response to the demonstration in 2014 calling for democracy in Hong Kong, known as the Umbrella Movement. However, the media reports that this does not create a welcoming mood for the defendant, and once again stated this type of behavior will be punished with greater severity in the future. In addition, the Hong Kong government also stated that it will prevent democratic activists from campaigning in elections and warns that China and Hong Kong have fallen into the vicious cycle of opposition and repression, which is a threat to Hong Kong’s stability.

In Taiwan, a new governor has been appointed to Taiwan’s central bank. Central bank governor Perng Fai-nan retired in February, and on February 24 deputy governor Yang Chin-long was appointed as central bank governor. Yang Chin-long was chosen by economists as the most promising candidate, and since working with the central bank beginning in 1989 has served in various positions within the bank, being appointed at deputy governor in 2008. It is expected that Yang Chin-long will follow the same course laid out by former central bank governor Perng Fai-nan, who holds the world record for term length as a central bank governor.