Chairman | Ping ChengIn 2025, global inflation moderated as major central banks eased monetary policy through successive interest rate cuts. In April, the United States announced adjustments to tariff policies, resulting in short-term volatility in global trade dynamics and market sentiment, which prompted a more cautious approach to corporate decision-making. In Taiwan, the global economic cycle and international trade environment continued to shape the country’s overall economic performance. Nevertheless, the technology sector, fueled by continued advancements in artificial intelligence-related applications, provided strong momentum for exports and investment, emerging as the primary structural driver of economic growth in 2025.