Taipei City Government

To realize Mayor Chiang, Wan-an 's policy vision of "Sustainable Co-prosperity, the Capital of Hope," the Department of Finance (DOF)has adopted "Financial Innovation and Added Value, Sustainable Revenue Development" as its policy goal. By enhancing financial efficiency, promoting participation in public-private development projects, and creating value for city assets, the department has actively pursued various initiatives. Over the past two years, DOF has compiled a "triple crown" report highlighting its impressive achievements.

Pioneering Government Sustainable Bonds: The Largest Issuance among Local Governments Nationwide

Hu Hsiao-lan, the commissioner of DOF emphasized the importance of leveraging Taipei's unique advantages to generate government revenue. In January 2024, Taipei City became the first in the country to issue a government social bond. By utilizing the city's robust metro network and aligning with the United Nations Sustainable Development Goals (SDGs), this innovative financial tool achieved a cumulative issuance of NT$10 billion, leading all local governments in Taiwan.

This groundbreaking initiative aligns with Taipei City's net-zero sustainability goals, connects with global standards, and earned the 2024” City of Excellence Award” for innovation. Moreover, the issuance saved approximately NT$70 million in annual interest expenditures.

Actively Attracting Investment, the amount of private investment and income from sales amounts are the highest among local governments in Taiwan.

Commissioner Hu further stated that robust government fiscal revenue hinges on local prosperity. Promoting investment and encouraging private participation in public infrastructure projects are key development strategies for The Taipei City Government (TCG). In 2023, private investment in Taipei City exceeded NT$27 billion, ranking first among local governments in  Taiwan. This achievement earned the "2024 PPP Distinguished Award" by the Ministry of Finance. Furthermore, Taipei City’s income from sales amounts hit a record high of NT$17.1 trillion in 2023, also leading all local governments in Taiwan. Although the availability of large-scale land in Taipei is diminishing, TCG remains committed to fostering growth. In 2024, TCG aims to attract private investment exceeding NT$20 billion by actively promoting public-private partnerships. TCG is working hard to complete agreements before the year’s end, striving to boost private investment in Taipei.

Prioritizing Fiscal Discipline: The Largest Debt Reduction among Local Governments Nationwide

Commissioner Hu noted that the key to balancing revenue and expenditures lies in analyzing the city's fiscal big data over the next four years and leveraging available city assets and resources for financial planning and debt management. In its budget proposal for fiscal year 2025, submitted to the Taipei City Council, the government achieved a surplus in its general fund for the first time since 2001.

From the end of 2022, when Mayor Chiang, Wan-an assumed office, to November 2024, the city successfully reduced its outstanding debt from NT$89.8 billion to NT$72.9 billion—a cumulative debt reduction of NT$16.9 billion, the largest among local governments nationwide. Including NT$8.5 billion allocated in the 2025 budget for debt repayment, the total reduction will reach NT$25.4 billion. Additionally, per capita debt will decrease significantly from NT$36,000 to NT$26,000, showcasing the mayor's commitment to both infrastructure development and debt reduction.

DOF concluded by highlighting that robust investment promotion has significantly contributed to Taipei's economic prosperity, ensuring stable self-raised revenue exceeding NT$110 billion annually, the highest proportion among the special municipality in Taiwan. Since Mayor Chiang assumed office, stable revenue has enabled the implementation of citizen-focused initiatives. Moving forward, the TCG will balance investment promotion, infrastructure development, and fiscal discipline to maintain financial stability and sustainability, further transforming Taipei into a city of safety, sports, and future opportunities.