. /. WORLD TRADE  
ORGANIZATION   
WT/L/580 
21 September 2004 
 (04-3972) 
 Original:   English 
  
VOLUNTARY COMMITMENT – PRIVATIZATION 
 
 
 The following submission is being circulated at  the request of the Delegation of the Separate 
Customs Territory of Taiwan, Penghu, Kinmen and Matsu.  
_______________ 
 
   In discharge of our obligation contained in paragraph 155 of the Working Party Report on the 
Accession of the Separate Customs Territory  of Taiwan, Penghu, Kinmen and Matsu 
(ref. WT/ACC/TPKM/18, 5 October 2001), I have the pleasure of enclosing herewith the 2004 
Annual Report on Developments in  the Privatization Programme. 
  With the aim of ensuring transparency, we ag reed to provide WTO Members with the Annual 
Report on Developments in our Programme of Privatization as long as it was in existence. 
 
_______________ 
 
 
2004 Annual Report on Developments in the Privatization Programme 
 The Separate Customs Territory of Ta iwan, Penghu, Kinmen and Matsu has been 
implementing a program for the privatization of its state-owned enterprises (SOEs) since 1989.  By 
December 2003, 31 SOEs held under the Ministry  of Economic Affairs (MOEA), the Ministry of 
Finance (MOF), the Ministry of Transportation & Communication (MOTC), the Veterans Affairs Commission (VAC), the Kaohsiung City Government (KCG), the Taipei City Government (TCG) and 
the Taiwan Provincial Government (TPG) had been privatized. 
 Since May 2000, ten SOEs －the Hsin Sheng Press Enterprise Co., Ltd., the Taipei City 
Government Printing House, the Chung Hsing Paper Corporation, th e Taiwan Machinery 
Manufacturing Corporation, the Taiwan Motor Transport Co., Ltd., the Central Reinsurance Corporation, the Agricultural and Industrial Enterprise Co., Ltd., the Taiwan Railway Freight Co., Ltd., 
the Food Products Factory, the Taiwan Salt Industrial Corporation （Also known as Taiyen ）－ have 
been fully privatized, as well as four parts of Tang Zong Iron Works Co., Ltd. In each case, 
privatization has been carried out through public offering or private placement of shares. 
 There are still 18 SOEs scheduled to be privatized. The recent recession and other adverse 
factors have necessitated some rescheduling and adjustment of the program for their privatization. Some more SOEs are under review and have been put into the privatization schedule. The latest 
revised schedule is set out below.  WT/L/580 
Page 2  
 
Timetable for Privatization of 18 SOEs 
Governing 
Authority Company Name Date Set for Privatization 
MOEA Chinese Petroleum Corporation The original privatization date  
(December 2003) is u nder re-evaluation. 
Aerospace Industrial Development 
Corporation The original privatization date  
(December 2003) is u nder re-evaluation. 
China Shipbuilding Co rporation December 2004 
Tang Zong Iron Works Co., Ltd. August 2004 for the stainless steel Plant, 
which is under reconstruction  
Taiwan Power Company December 2005 
Taiwan Sugar Company Undecided 
Taiwan Water Supply Corporation Undecided 
MOF Taiwan Tobacco and Liquor Co., Ltd. The original privatization date  
(July 2004) is under re-evaluation. 
Taiwan Cooperative Bank December 2004 
Bank of Taiwan December 2006 
Land Bank of Taiwan December 2006 
Central Trust of China December 2006 
MOTC Chunghwa Telecom Co., Ltd. Th e original privatization date  
(December 2003) is u nder re-evaluation. 
Taiwan Railway Administration Suspended 
Chunghwa Post Co., Ltd. Undecided 
VAC Veterans Pharmaceutical Plant The original privatization date  
(December 2002) is u nder re-evaluation. 
Lung-Chi Chemical Plant The original privatization date  
(June 2004) is under re-evaluation. 
RSEA Engineering Corporation The original privatization date 
(June 2004) is under re-evaluation. 
 
__________