The ruling party continued to review its governance after the defeat in the 9-in-1 election. President Tsai Ing-wen instructed yesterday to maintain economic growth momentum and stabilize people's livelihood prices in order to respond to economic changes.

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[Reporter Chen Yun/Taipei Report] The ruling party continued to review its governance after the defeat in the nine-in-one election. Yesterday, President Tsai Ing-wen invited Su Zhenchang, the executive vice president, Shen Rongjin, and heads of relevant ministries to discuss various aspects of the international and domestic overall economic situation. For this response plan, during the meeting, the president preliminarily set three directions, including maintaining economic growth momentum and stabilizing people's livelihood, strengthening care for the disadvantaged and reducing people's living burden, and ensuring overall economic and financial stability.

Presidential Office Spokesperson Zhang Dunhan said that the international economy is facing the dual risks of high inflation and recession, coupled with severe challenges such as the continuous impact of the epidemic, competition between the United States and China, and the Ukrainian-Russian war. Major international institutions predict that the growth momentum of the global economy will slow down next year. Although Taiwan's economic growth rate is expected to be higher than the global average for five consecutive years next year, it will still face various challenges.

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Zhang Dunhan relayed that the President believes that the government must do its best to maintain Taiwan's economic growth momentum, continue to stabilize people's livelihood, take care of vulnerable groups and young friends, and assist affected industries to reduce the burden of people's lives. Relevant reviews and response plans will continue to be carried out. Initially, there are three orientations.

First of all, continue to maintain the growth of domestic investment, activate domestic demand and the consumer market, and propose relevant revitalization measures to help the industry recover. At the same time, strengthen the stability of people's livelihood prices, and ensure the supply and price stability of important people's livelihood materials from the cost and supply side.

Secondly, the economically disadvantaged groups should continue to provide assistance to reduce their living burden. The central government will actively plan and promote the public transportation subsidy policy to reduce the expenditure of commuters. Adjustment, and will accelerate the promotion of relevant amendments, as well as the use of multiple policies to stabilize housing prices.

Third, strengthen the resilience of financial institutions and state-owned enterprises in response to economic and financial fluctuations, establish effective response mechanisms, and ensure overall economic and financial stability.

Zhang Dunhan explained that the President also asked the Executive Yuan and relevant ministries to propose specific policy measures in response to changes in the overall economic situation at home and abroad.

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