 Taiwan's
industrial development may be broken down into several phases. The
first import-substitution policy in the 1950s called for the development
of labor-intensive, import-substituting light industry; the export
expansion policy in the 1960s helped the rapid expansion of overseas
markets on the strength of low wages; the second import-substitution
policy and export expansion policy that focused on heavy chemical
industry in the 1970s pushed for the development of strategic industries
including heavy chemical, machinery, information, and electronics.
During the period in the midst of oil crisis, protectionism, and
gradual loss of low labor cost advantage, the export structure shifted
slowly from labor-intensive consumption goods to technology-intensive
producer goods, and the industrial structure underwent adjustment
accordingly.
In the 1980s, Taiwan adopted strategic industrial policy and made
plans for developing emerging high-tech industries of the 21st century
under the principles of developing forward-looking technologies
and taking into considerations of world trend, market demands, and
international competitiveness. The government also identified ten
priority emerging industries and eight key technologies based on
the principles of market potential, high industrial relevancy, high
technical level, high added value, low pollution, and low energy
reliance. Also through financial support and technology, management
and market guidance, the government was able to create an environment
conducive to industrial upgrade and restructuring.
Since the 1990s, the government has been vigorously pushing for
the upgrade of traditional industries and focusing on the development
of ten high-tech industries, namely communications, information,
consumer electronics, semiconductors, precision machinery and automation
equipment, aerospace, advanced materials, specialty chemicals and
pharmaceuticals, medical and health care, and pollution control
and treatment industries, in the hope to build a core for future
industrial development.
At the outset of the 21st century, Taiwan
has become a major producer and supplier of machinery, electronic
OEM services, and textile and farming/aquaculture technology. In
2003, high-tech industry accounted for 60% of the output of manufacturing
sector. In response to the challenges of the new century, Taiwan
is also stepping up the development of its knowledge-intensive service
sector, biotechnology, IT industry, and MEMS/nano technology.
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