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<SEC-DOCUMENT>0000950135-06-000364.txt : 20060130
<SEC-HEADER>0000950135-06-000364.hdr.sgml : 20060130
<ACCEPTANCE-DATETIME>20060130133855
ACCESSION NUMBER:		0000950135-06-000364
CONFORMED SUBMISSION TYPE:	N-Q
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20051130
FILED AS OF DATE:		20060130
DATE AS OF CHANGE:		20060130
EFFECTIVENESS DATE:		20060130

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			TAIWAN FUND INC
		CENTRAL INDEX KEY:			0000804123
		IRS NUMBER:				042942862
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		N-Q
		SEC ACT:		1940 Act
		SEC FILE NUMBER:	811-04893
		FILM NUMBER:		06561005

	BUSINESS ADDRESS:	
		STREET 1:		225 FRANKLIN STREET
		CITY:			BOSTON
		STATE:			MA
		ZIP:			02110
		BUSINESS PHONE:		6176622789

	MAIL ADDRESS:	
		STREET 1:		225 FRANKLIN STREET
		STREET 2:		PO BOX 9110
		CITY:			BOSTON
		STATE:			MA
		ZIP:			02110
</SEC-HEADER>
<DOCUMENT>
<TYPE>N-Q
<SEQUENCE>1
<FILENAME>b58320tfnvq.txt
<DESCRIPTION>THE TAIWAN FUND, INC.
<TEXT>
<PAGE>

                                  UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                    FORM N-Q

             QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED
                          MANAGEMENT INVESTMENT COMPANY

                  Investment Company Act file number: 811-4893
                  --------------------------------------------

                              THE TAIWAN FUND, INC.
               --------------------------------------------------
               (Exact name of registrant as specified in charter)

                               225 FRANKLIN STREET
                                BOSTON, MA 02110
               --------------------------------------------------
               (Address of principal executive offices)(Zip code)


   (Name and Address of Agent for Service)               Copy to:

            The Taiwan Fund, Inc.              Leonard B. Mackey, Jr., Esq.
   c/o State Street Bank and Trust Company       Clifford Chance U.S. LLP
        Attention: Mary Moran Zeven,               31 West 52nd Street
            Assistant Secretary                  New York, New York 10019
            225 Franklin Street
              Boston, MA 02110

Registrant's telephone number, including area code:  (800) 636-9242

Date of fiscal year end:  August 31, 2005

Date of reporting period:  November 30, 2005



<PAGE>


ITEM 1:  SCHEDULE OF INVESTMENTS
<PAGE>


THE TAIWAN FUND, INC.
Investments/November 30, 2005 (Showing Percentage of Total Value of Investment
in Securities) (unaudited)
- --------------------------------------------------------------------------------


<TABLE>
<CAPTION>
                                                                                US$
                                                                               VALUE
                                                           SHARES             (NOTE C)
                                                       ---------------     ---------------
<S>                                                    <C>                 <C>
COMMON STOCKS -- 95.0%
BASIC INDUSTRIES -- 9.6%
IRON & STEEL -- 4.9%
China Steel Corp.                                           16,460,000     $    12,327,013
                                                                           ---------------
PETROLEUM SERVICES -- 2.8%
Formosa Petrochemical Corp.                                  3,800,000           6,916,203
                                                                           ---------------
PLASTICS -- 1.9%
Nan Ya Plastics Corp.                                        4,002,000           4,818,090
                                                                           ---------------
TOTAL BASIC INDUSTRIES                                                          24,061,306
                                                                           ---------------
FINANCE -- 6.9%
FINANCIAL SERVICES -- 6.9%
Cathay Financial Holding Co. Ltd.                            5,000,000           9,055,511
Chinatrust Financial Holding Co. Ltd.                       10,166,972           8,175,319
                                                                           ---------------
TOTAL FINANCE                                                                   17,230,830
                                                                           ---------------
TECHNOLOGY -- 77.0%
ELECTRONIC COMPONENTS -- 11.9%
Catcher Technology Co Ltd                                      500,000           3,535,678
Kinsus Interconnect Technology Corp.                         3,450,000           8,543,808
Phoenix Precision Technology Corp. (a)                       2,000,000           3,198,520
Silitech Technology Corp.                                    1,000,000           3,878,802
Tripod Technology Corp.                                      4,560,000          10,626,009
                                                                           ---------------
                                                                                29,782,817
                                                                           ---------------
ELECTRONICS -- 8.7%
Asia Optical Co In Twd10                                       879,000           5,389,581
Cheng Uei Precision Industry Co. Ltd.                        3,300,000          11,027,734
Merry Electronics Co. Ltd.                                   2,400,000           5,377,810
                                                                           ---------------
                                                                                21,795,125
                                                                           ---------------
IC DESIGN -- 11.4%
CHIPBOND Technology Corp.                                    2,000,000           3,109,009
MediaTek, Inc.                                               1,980,000          20,706,539
RichTek Technology Corp.                                     1,470,000           4,649,192
                                                                           ---------------
                                                                                28,464,740
                                                                           ---------------
MEMORY IC -- 3.2%
Powerchip Semiconductor Corp.                               14,368,000           7,930,898
                                                                           ---------------
PC & PERIPHERALS -- 17.8%
Asustek Computer, Inc.                                       4,100,000          11,621,488
Foxconn Technology Co. Ltd.                                  1,540,000           7,168,027
Hon Hai Precision Industry Co. Ltd. (a)                      3,104,222          15,699,173
Simplo Technology Co. Ltd.                                   2,855,000           6,618,833
Waffer Technology Co. Ltd.                                   3,686,000           3,497,331
                                                                           ---------------
                                                                                44,604,852
                                                                           ---------------
SEMICONDUCTOR MANUFACTURING -- 12.7%
Novatek Microelectronics Corp. Ltd.                          1,300,000           7,078,814
Powertech Technology Inc.                                    1,795,000           5,270,039
Siliconware Precision Industries Co. (a)                     7,000,000           7,424,923
</TABLE>


<TABLE>
<CAPTION>
                                                                                US$
                                                                               VALUE
                                                           SHARES             (NOTE C)
                                                       ---------------     ---------------
<S>                                                    <C>                 <C>
Taiwan Semiconductor Manufacturing Co.                       6,800,976     $    12,073,759
United Microelectronics Corp. Ltd.                                 683                 381
                                                                           ---------------
                                                                                31,847,916
                                                                           ---------------
TELECOMMUNICATIONS -- 4.3%
Chunghwa Telecom Co. Ltd.                                    3,600,000           6,122,540
Zyxel Communications Corp.                                   2,500,000           4,527,756
                                                                           ---------------
                                                                                10,650,296
                                                                           ---------------
TFT-LCD -- 7.0%
Au Optronics Corp.                                           6,213,000           8,898,092
Chi Mei Optoelectronics Corp.                                3,000,000           3,647,566
Radiant Opto-Electronics Corp.                               1,962,000           4,882,243
                                                                           ---------------
                                                                                17,427,901
                                                                           ---------------
TOTAL TECHNOLOGY                                                               192,504,545
                                                                           ---------------
TRANSPORTATION -- 1.5%
TRANSPORTATION -- 1.5%
Yang Ming Marine Transport                                   6,000,000           3,768,406
                                                                           ---------------
TOTAL COMMON STOCKS
  (Identified Cost -- $176,594,006)                                            237,565,087
                                                                           ---------------
</TABLE>


<TABLE>
<CAPTION>
                                                          PRINCIPAL
                                                           AMOUNT
                                                             NT$
                                                       ---------------
<S>                                                    <C>                 <C>
CERTIFICATE OF DEPOSIT -- 1.2%
Taishin International Bank (b)                              99,789,305           2,977,407
                                                                           ---------------
COMMERCIAL PAPER -- 3.8%
Bai Ding Investment(b)
1.36%, 12/21/05                                             10,000,000             298,118
Cathay United Commercial Bank(b)
1.35%, 12/09/05                                             47,897,021           1,429,101
China Airlines(b)
1.41%, 03/24/06                                             99,300,108           2,962,812
China Bills Finance Corp.(b)
1.31%, 12/02/05                                              9,981,078             297,805
China Develop Bank Chiau Branch(b)
1.40%, 02/23/06                                             10,000,000             297,373
China Trust Commercial Bank(b)
1.35%, 12/16/05                                             19,979,395             596,124
E Sun(b)
1.36%, 01/12/06                                             10,000,000             299,706
E. Sun Bank(b)
1.37%, 09/01/06                                             50,202,143           1,497,878
Far Eastern International Bank(b)
1.36%, 01/12/06                                             10,000,000             299,683
Grand Bills Finance Corp.
1.3200%, 12/08/2005(b)                                      24,975,425             745,190
</TABLE>



                      See Notes to Schedule of Investments.

                                                                               1



<PAGE>


INVESTMENTS/November 30, 2005 (unaudited) (continued)
- --------------------------------------------------------------------------------


<TABLE>
<CAPTION>
                                                          PRINCIPAL
                                                           AMOUNT
                                                             NT$
                                                       ---------------
<S>                                                    <C>                 <C>
  1.3500%, 03/24/2006(b)                               $    24,864,505     $       741,881
TOTAL COMMERCIAL PAPER
  (Identified Cost -- $9,488,645)                                                9,465,671
                                                                           ---------------
TOTAL INVESTMENTS -- 100.0%
  (Cost -- $189,072,548*)                                                  $   250,008,165
                                                                           ===============
</TABLE>



                     See Notes to Schedule of Investments.

2


<PAGE>

NOTES TO SCHEDULE OF INVESTMENTS

      (a)   Non-income producing

      (b)   Certificates of Deposit and Commercial Paper that are traded through
            Bills Finance Corporations must be guaranteed by either a bank, a
            trust company or a Bills Finance Corporation. Since there is no
            recognized credit rating system in the Republic of China, the
            guarantee may not be comparable to a guarantee issued by a U.S.
            institution.

      (c)   All securities, including those traded over-the-counter for which
            market quotations are readily available, are valued at the last
            sales price prior to the time of determination of the Fund's net
            asset value per share or, if there were no sales on such date, at
            the closing price quoted for such securities (but if bid and asked
            quotations are available, at the mean between the last current bid
            and asked prices, rather than such quoted closing price). In certain
            instances where the price determined above may not represent fair
            market value, the value is determined in such manner as the Board of
            Directors may prescribe. Short-term investments, having a maturity
            of 60 days or less, are valued at amortized cost, which approximates
            market value, with accrued interest or discount earned included in
            interest receivable.

      *     At November 30, 2005, aggregate gross unrealized appreciation for
            all securities for which there was an excess of value over financial
            reporting cost was $66,464,544 and aggregate gross unrealized
            depreciation for all securities for which there was an excess of
            financial reporting cost over value was $5,528,926 and net
            appreciation for financial reporting purposes was $60,935,618. At
            November 30, 2005, aggregate cost for financial reporting purposes
            was $189,072,548.


<PAGE>


ITEM 2. CONTROLS AND PROCEDURES

 (a)     The registrant's principal executive and principal financial officers
         have concluded that the registrant's disclosure controls and procedures
         (as defined in Rule 30a-3(c) under the Investment Company Act of 1940,
         as amended (the "1940 Act") (17 CFR 270.30a-3(c))) are effective, as of
         a date within 90 days of the filing date of this Form N-Q that includes
         the disclosure required by this paragraph based on their evaluation of
         the controls and procedures required by Rule 30a-3(b) under the 1940
         Act (17 CFR 270.30a-3(b)) and Rules 13a-15(b) or 15d-15(b) under the
         Securities Exchange Act of 1934 (17 CFR 240.13a-15(b) or
         240.15d-15(b)).

(b)      There were no changes in the registrant's internal control over
         financial reporting (as defined in Rule 30a-3(d) under the 1940 Act (17
         CFR 270.30a-3(d)) that occurred during the registrant's last fiscal
         quarter that have materially affected, or are reasonably likely to
         materially affect, the registrant's internal control over financial
         reporting.


ITEM 3. EXHIBITS

The certification required by Rule 30a-2(a) of the Investment Company Act of
1940 (17 CFR 270.30a-2(a)), as amended, is attached as an exhibit to this
filing.


<PAGE>


                                   SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934 and the
Investment Company Act of 1940, the Registrant has duly caused this report to be
signed on its behalf by the undersigned, thereunto duly authorized.


THE TAIWAN FUND, INC.

By: /s/ Benny T. Hu
    ------------------------------------
    Benny T. Hu
    President of The Taiwan Fund, Inc.

Date: January 27, 2006



Pursuant to the requirements of the Securities Exchange Act of 1934 and the
Investment Company Act of 1940, this report has been signed below by the
following persons on behalf of the registrant and in the capacities and on the
dates indicated.


By: /s/ Adelina Louie
    ------------------------------------
    Adelina Louie
    Treasurer of The Taiwan Fund, Inc.

Date: January 19, 2006


By: /s/ Benny T. Hu
    ------------------------------------
    Benny T. Hu
    President of The Taiwan Fund, Inc.

Date: January 27, 2006


</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.CERT
<SEQUENCE>2
<FILENAME>b58320tfexv99wcert.txt
<DESCRIPTION>CERTIFICATIONS
<TEXT>
<PAGE>


                                 CERTIFICATIONS

I, Benny T. Hu, certify that:

1.   I have reviewed this report on Form N-Q of The Taiwan Fund, Inc.;

2.   Based on my knowledge, this report does not contain any untrue statement of
     a material fact or omit to state a material fact necessary to make the
     statements made, in light of the circumstances under which such statements
     were made, not misleading with respect to the period covered by this
     report;

3.   Based on my knowledge, the schedule of investments included in this report
     fairly presents in all material respects the investments of the registrant
     as of the end of the fiscal quarter for which the report is filed;

4.   The registrant's other certifying officer and I are responsible for
     establishing and maintaining disclosure controls and procedures (as defined
     in Rule 30a-3(c) under the Investment Company Act of 1940) and internal
     control over financial reporting (as defined in Rule 30a-3(d) under the
     Investment Company Act of 1940) for the registrant and have:

     (a)  Designed such disclosure controls and procedures, or caused such
          disclosure controls and procedures to be designed under our
          supervision, to ensure that material information relating to the
          registrant, including its consolidated subsidiaries, is made known to
          us by others within those entities, particularly during the period in
          which this report is being prepared;

     (b)  Designed such internal control over financial reporting, or caused
          such internal control over financial reporting to be designed under
          our supervision, to provide reasonable assurance regarding the
          reliability of financial reporting and the preparation of financial
          statements for external purposes in accordance with generally accepted
          accounting principles;

     (c)  Evaluated the effectiveness of the registrant's disclosure controls
          and procedures and presented in this report our conclusions about the
          effectiveness of the disclosure controls and procedures, as of a date
          within 90 days prior to the filing date of this report based on such
          evaluation; and

     (d)  Disclosed in this report any change in the registrant's internal
          control over financial reporting that occurred during the registrant's
          most recent fiscal quarter that has materially affected, or is
          reasonably likely to materially affect, the registrant's internal
          control over financial reporting; and

5.   The registrant's other certifying officer and I have disclosed to the
     registrant's auditors and the audit committee of the registrant's board of
     directors (or persons performing the equivalent functions):

     (a)  All significant deficiencies and material weaknesses in the design or
          operation of internal control over financial reporting which are
          reasonably likely to adversely affect the registrant's ability to
          record, process, summarize, and report financial information; and

     (b)  Any fraud, whether or not material, that involves management or other
          employees who have a significant role in the registrant's internal
          control over financial reporting.


Date: January 27, 2006


/s/ Benny T. Hu
- ----------------------------------
Benny T. Hu
President of The Taiwan Fund, Inc.


<PAGE>


I, Adelina Louie, certify that:

1.   I have reviewed this report on Form N-Q of The Taiwan Fund, Inc.;

2.   Based on my knowledge, this report does not contain any untrue statement of
     a material fact or omit to state a material fact necessary to make the
     statements made, in light of the circumstances under which such statements
     were made, not misleading with respect to the period covered by this
     report;

3.   Based on my knowledge, the schedule of investments included in this report
     fairly presents in all material respects the investments of the registrant
     as of the end of the fiscal quarter for which the report is filed;

4.   The registrant's other certifying officer and I are responsible for
     establishing and maintaining disclosure controls and procedures (as defined
     in Rule 30a-3(c) under the Investment Company Act of 1940) and internal
     control over financial reporting (as defined in Rule 30a-3(d) under the
     Investment Company Act of 1940) for the registrant and have:

     (a)  Designed such disclosure controls and procedures, or caused such
          disclosure controls and procedures to be designed under our
          supervision, to ensure that material information relating to the
          registrant, including its consolidated subsidiaries, is made known to
          us by others within those entities, particularly during the period in
          which this report is being prepared;

     (b)  Designed such internal control over financial reporting, or caused
          such internal control over financial reporting to be designed under
          our supervision, to provide reasonable assurance regarding the
          reliability of financial reporting and the preparation of financial
          statements for external purposes in accordance with generally accepted
          accounting principles;

     (c)  Evaluated the effectiveness of the registrant's disclosure controls
          and procedures and presented in this report our conclusions about the
          effectiveness of the disclosure controls and procedures, as of a date
          within 90 days prior to the filing date of this report based on such
          evaluation; and

     (d)  Disclosed in this report any change in the registrant's internal
          control over financial reporting that occurred during the registrant's
          most recent fiscal quarter that has materially affected, or is
          reasonably likely to materially affect, the registrant's internal
          control over financial reporting; and

5.   The registrant's other certifying officer and I have disclosed to the
     registrant's auditors and the audit committee of the registrant's board of
     directors (or persons performing the equivalent functions):

     (a)  All significant deficiencies and material weaknesses in the design or
          operation of internal control over financial reporting which are
          reasonably likely to adversely affect the registrant's ability to
          record, process, summarize, and report financial information; and

     (b)  Any fraud, whether or not material, that involves management or other
          employees who have a significant role in the registrant's internal
          control over financial reporting.



Date: January 19, 2006


/s/ Adelina Louie
- ----------------------------------
Adelina Louie
Treasurer of The Taiwan Fund, Inc.
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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