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Taiwan raps Fitch for calling it part of China in ratings upgrade

TAIPEI (Reuters) - Taiwan's government scolded Fitch Ratings on Friday for calling the island part of China for the first time, in an announcement on upgrading Taiwan's economic...
Taiwan raps Fitch for calling it part of China in ratings upgrade © Reuters. FILE PHOTO: The Fitch Ratings logo is seen at their offices at Canary Wharf financial district in London,Britain, March 3, 2016. REUTERS/Reinhard Krause

TAIPEI (Reuters) - Taiwan's government scolded Fitch Ratings on Friday for calling the island part of China for the first time, in an announcement on upgrading Taiwan's economic outlook, and said it was talking to the company about the issue.

China, which claims democratically-ruled Taiwan as its own territory, has pressured foreign companies to refer to the island as Chinese territory, often using the terminology "Taiwan, China", which they generally do to avoid losing access to the enormous Chinese market.

Fitch's press release used the expression "Taiwan, China" three times, including in the headline, though otherwise referred only to Taiwan without the addition of the word China in the rest of the statement.

Taiwan's Finance Ministry expressed "deep regret" at the name change despite asking Fitch to revert to its previous convention of just using the word "Taiwan".

"The ministry will continue to talk to the company to get them to acknowledge this problem," it added.

A spokesperson for Fitch Ratings said: "The change to our naming convention for Taiwan was an operational decision".

It did not elaborate.

The statement was otherwise positive for Taiwan, with Fitch upgrading it to 'AA' from 'AA-' with a stable outlook, saying the economy had outperformed its peers during the coronavirus pandemic.

China's claims over Taiwan are a frequent source of anger in Taiwan, whose people have shown no interest in being ruled by autocratic Beijing.

The People's Republic of China has never ruled Taiwan, and its government has no say in how the island is governed.

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19-09-2021 18:48:32 (UTC+7)

EUR/USD

1.1724

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EUR/USD

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GBP/USD

1.3736

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USD/JPY

110.00

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AUD/USD

0.7267

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USD/CAD

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Adidas AG

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 EUR/USD1.1724↑ Sell
 GBP/USD1.3736↑ Buy
 USD/JPY110.00Sell
 AUD/USD0.7267↑ Sell
 USD/CAD1.2768Neutral
 EUR/JPY128.97↑ Sell
 EUR/CHF1.0933↑ Sell
 Gold1,753.95↑ Buy
 Silver22.358Sell
 Copper4.2393↑ Buy
 Crude Oil WTI71.82↑ Buy
 Brent Oil75.31↑ Buy
 Natural Gas5.061↑ Sell
 US Coffee C186.75Buy
 Euro Stoxx 504,130.84↑ Buy
 S&P 5004,432.99Neutral
 DAX15,490.17↑ Buy
 FTSE 1006,963.64↑ Buy
 Hang Seng24,920.76↑ Buy
 Small Cap 20002,233.92↑ Buy
 IBEX 358,760.90↑ Sell
 BASF63.085↑ Sell
 Bayer45.07↑ Sell
 Allianz190.23↑ Sell
 Adidas281.60↑ Sell
 Lufthansa8.210Neutral
 Siemens AG148.76↑ Sell
 Deutsche Bank AG11.080↑ Sell
Mua/Bán 1 chỉ SJC
# So hôm qua # Chênh TG
SJC Eximbank5,600/ 5,665
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SJC HCM5,600/ 5,665
(0/ 0) # 830
SJC Hanoi5,600/ 5,667
(0/ 0) # 832
SJC Danang5,600/ 5,667
(0/ 0) # 832
SJC Nhatrang5,600/ 5,667
(0/ 0) # 832
SJC Cantho5,600/ 5,667
(0/ 0) # 832
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