Taiwan's economic growth this year has far exceeded expectations, and the government is preparing to hand the gains directly to the public — good news for ordinary households and stock market investors alike.

• In his National Day address, Lai Ching-te announced that next year every citizen will receive an "AI dividend" of NT$10,000, that the elderly farmers' allowance will be raised to NT$10,000 per month, and that the National Pension and six major social welfare allowances will also be increased across the board.
• The economic growth rate reached 14% in the first half of this year and is expected to top 11% for the full year, the highest in 39 years; per capita GDP is projected at US$45,332, almost double the 2016 figure.
• Taiwan's stock market has surged to 49,000 points, making it the world's fourth largest, driven mainly by strong demand in the AI supply chain.
• In the latest World Competitiveness Ranking from Switzerland's International Institute for Management Development (IMD) in Lausanne, Taiwan jumped to fourth in the world, placing near the top in economic performance, government efficiency, business efficiency and infrastructure — its best showing ever.
• The government stressed that these payments rest on a foundation of fiscal soundness, noting at the same time that the minimum wage has been raised for 11 consecutive years and that military personnel, civil servants and teachers have received five pay rises over the past decade.

Outlook: The details and timetable for the cash handouts and allowance increases are expected to be finalised during next year's budget review, and whether AI demand holds up will determine whether this bout of high growth can be sustained.