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<SEC-DOCUMENT>0000950135-08-005180.txt : 20080729
<SEC-HEADER>0000950135-08-005180.hdr.sgml : 20080729
<ACCEPTANCE-DATETIME>20080729105920
ACCESSION NUMBER:		0000950135-08-005180
CONFORMED SUBMISSION TYPE:	N-Q
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20080531
FILED AS OF DATE:		20080729
DATE AS OF CHANGE:		20080729
EFFECTIVENESS DATE:		20080729

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:		08974661

	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>b71021a1nvq.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)

                              2 AVENUE DE LAFAYETTE
                                BOSTON, MA 02111
               (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
         2 Avenue De Lafayette
             P.O. Box 5049
         Boston, MA 02206-5049

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

Date of fiscal year end: August 31, 2008

Date of reporting period: May 31, 2008

<PAGE>

ITEM 1:  SCHEDULE OF INVESTMENTS

<PAGE>

THE TAIWAN FUND, INC.
Investments/May 31, 2008 (Showing Percentage of Net Assets) (unaudited)

<TABLE>
<CAPTION>
                                                                         US$
                                                                        VALUE
                                                         SHARES       (NOTE b)
                                                      -----------   ------------
<S>                                                   <C>           <C>
COMMON STOCKS - 93.0%
BASIC INDUSTRIES -- 24.8%
AUTOMOBILES, TIRES & ACCESSORIES -- 4.1%
Cheng Shin Rubber Industry Co., Ltd.                    3,000,000   $  5,129,470
China Motor Corp.                                       6,000,000      4,705,302
Yulon Motor Co., Ltd.                                   4,000,000      4,794,081
                                                                    ------------
                                                                      14,628,853
                                                                    ------------
CHEMICALS -- 0.9%
Sesoda Corp.                                            1,500,000      3,329,223
                                                                    ------------
CONSTRUCTION-- 0.9%
Taiwan Cement Corp.                                     2,000,000      3,353,884
                                                                    ------------
FOOD-- 1.6%
Uni-President Enterprises Corp.                         4,000,000      5,648,993
                                                                    ------------
GLASS -- 2.2%
Taiwan Glass Industrial Corp.                           6,500,000      8,078,915
                                                                    ------------
IRON & STEEL -- 2.4%
China Steel Corp.                                       5,000,000      8,549,116
                                                                    ------------
PAPER -- 1.5%
Chung Hwa Pulp Corp.                                    7,000,000      5,501,028
                                                                    ------------
PETROLEUM SERVICES -- 1.6%
Formosa Petrochemical Corp.                             2,000,000      5,721,332
                                                                    ------------
PLASTICS -- 1.0%
Formosa Plastics Corp.                                  1,300,000      3,667,571
                                                                    ------------
REAL ESTATE -- 1.6%
Prince Housing Development Corp.                        7,000,000      5,823,264
                                                                    ------------
RETAIL -- 2.7%
Far Eastern Department Stores Co., Ltd.                 1,500,000      2,254,007
President Chain Store Corp.                             2,000,000      7,562,680
                                                                    ------------
                                                                       9,816,687
                                                                    ------------
TEXTILE -- 4.3%
Far Eastern Textile Co., Ltd.                           4,500,500      6,999,545
Ruentex Industries, Ltd.                                8,500,000      8,664,200
                                                                    ------------
                                                                      15,663,745
                                                                    ------------
TOTAL BASIC INDUSTRIES                                                89,782,611
                                                                    ------------
FINANCE -- 13.9%
BANKS -- 1.9%
Far Eastern International Bank *                       18,000,000      6,776,819
                                                                    ------------
FINANCIAL SERVICES -- 12.0%
Cathay Financial Holding Co., Ltd.                      2,800,593      7,155,153
First Financial Holding Co., Ltd.                       6,300,000      7,467,817
Fubon Financial Holding Co., Ltd.                       7,500,000      8,927,250
Hua Nan Financial Holdings Co., Ltd.                    1,000,000        920,674
Mega Financial Holding Co., Ltd.                        5,000,000      3,912,865
Shin Kong Financial Holding Co., Ltd.                   2,005,279      1,737,414
Taishin Financial Holdings Co., Ltd. *                 15,000,000      7,003,699
Yuanta Financial Holding Co., Ltd. *                    6,500,000      6,048,500
</TABLE>

<TABLE>
<CAPTION>
                                                                         US$
                                                                        VALUE
                                                         SHARES       (NOTE b)
                                                      -----------   ------------
<S>                                                   <C>           <C>
                                                                    $ 43,173,372
                                                                    ------------
TOTAL FINANCE                                                         49,950,191
                                                                    ------------
MISCELLANEOUS -- 2.2%
ATHLETIC FOOTWARE -- 2.2%
Pou Chen Corp.                                          8,000,531      7,799,942
                                                                    ------------
TECHNOLOGY -- 52.1%
ELECTRONIC COMPONENTS -- 6.9%
Everlight Electronics Co., Ltd.                         1,500,920      5,305,348
Kinsus Interconnect Technology Corp.                    1,800,029      4,705,378
Nan Ya Printed Circuit Board Corp.                      1,330,401      7,414,812
Pixart Imaging, Inc.                                      250,000      1,833,128
Unimicron Technology Corp.                              4,000,000      5,491,163
                                                                    ------------
                                                                      24,749,829
                                                                    ------------
ELECTRONICS -- 2.2%
Synnex Technology International Corp.                   3,000,000      7,842,170
                                                                    ------------
IC DESIGN -- 6.5%
MediaTek, Inc.                                            800,000      9,995,890
Novatek Microelectronics Corp., Ltd.                    1,700,703      6,598,700
Orise Technology Co., Ltd. *                            1,600,000      4,471,845
RichTek Technology Corp.                                  250,000      2,342,787
                                                                    ------------
                                                                      23,409,222
                                                                    ------------
MEMORY IC -- 1.5%
Inotera Memories, Inc.                                  8,000,000      5,445,129
                                                                    ------------
PC & PERIPHERALS -- 11.0%
Asustek Computer, Inc.                                  3,700,363     10,670,673
Clevo Co. *                                             1,619,000      2,677,705
Foxconn Technology Co., Ltd.                            1,000,000      5,803,535
GeoVision, Inc.                                           450,000      3,166,461
Hon Hai Precision Industry Co., Ltd.                    2,300,760     13,012,107
Inventec Co., Ltd.                                      3,000,000      1,854,501
Quanta Computer, Inc.                                   1,500,000      2,367,447
                                                                    ------------
                                                                      39,552,429
                                                                    ------------
SEMICONDUCTOR MANUFACTURING -- 7.7%
Siliconware Precision Industries Co.                    3,000,074      5,030,950
Sino-American Silicon Products, Inc.                      250,000      1,368,681
Taiwan Semiconductor Manufacturing Co., Ltd.            9,200,009     19,844,491
Wafer Works Corp.                                         340,000      1,565,146
                                                                    ------------
                                                                      27,809,268
                                                                    ------------
TELECOMMUNICATIONS -- 8.3%
Chunghwa Telecom Co., Ltd.                              6,500,454     16,116,210
High Tech Computer Corp.                                  300,000      7,980,271
Merry Electronics Co., Ltd.                             2,500,866      5,928,892
                                                                    ------------
                                                                      30,025,373
                                                                    ------------
TFT-LCD -- 8.0%
Au Optronics Corp.                                      6,500,674     12,483,004
</TABLE>

                     See Notes to Schedule of Investments.


                                                                               1

<PAGE>

INVESTMENTS/ MAY 31, 2008 (unaudited)(continued)

<TABLE>
<CAPTION>
                                                                         US$
                                                                        VALUE
                                                         SHARES       (NOTE b)
                                                      -----------   ------------
<S>                                                   <C>           <C>
Chi Mei Optoelectronics Corp.                           3,000,000   $  4,088,779
InnoLux Display Corp.                                   3,000,840      8,387,058
Wintek Corp. *                                          4,500,000      3,684,341
                                                                    ------------
                                                                      28,643,182
                                                                    ------------
TOTAL TECHNOLOGY                                                     187,476,602
                                                                    ------------
TOTAL COMMON STOCKS
   (Identified Cost -- $270,523,880)                                 335,009,346
                                                                    ------------
</TABLE>

<TABLE>
<CAPTION>
                                                       PRINCIPAL         US$
                                                         AMOUNT         VALUE
                                                          NT$         (NOTE b)
                                                      -----------   ------------
<S>                                                   <C>           <C>
COMMERCIAL PAPER - 6.8%
C S Aluminium Corp.(a)                                299,771,842     9,856,863
First Taisec Securities (a)                           113,822,332     3,742,617
Formica Taiwan Corp. (a)                               29,954,593       984,943
Hong Ching Investments (a)                             54,916,557     1,805,723
Mercuries & Associates (a)                             49,842,522     1,638,883
Sampo (a)                                              99,677,911     3,277,531
Sinopac Card Services (a)                              99,848,604     3,283,144
                                                                    ------------
TOTAL COMMERCIAL PAPER
   (Identified Cost -- $24,543,346)                                   24,589,704
                                                                    ------------
</TABLE>

<TABLE>
<CAPTION>
                                                        MATURITY         US$
                                                         AMOUNT         VALUE
                                                          US$         (NOTE b)
                                                      -----------   ------------
<S>                                                   <C>           <C>
REPURCHASE AGREEMENT - 0.1%
State Street Bank and Trust Co.
0.35% dated 5/27/08 due 6/2/08
   (collateralized by U.S. Treasury Bill
   1.92%, 11/6/08, market value
   $426,302) (c)                                          415,000        415,000
                                                                    ------------
TOTAL INVESTMENTS -- 99.9%
   (Cost -- $295,482,226) **                                        $360,014,050
                                                                    ============
OTHER ASSETS AND LIABILITIES, NET - 0.1%                            $    415,556
                                                                    ------------
NET ASSETS -- 100.0%                                                $360,429,606
                                                                    ------------
</TABLE>

                     See Notes to Schedule of Investments.


2

<PAGE>

NOTES TO SCHEDULE OF INVESTMENTS

NT$  New Taiwan Dollar

US$  United States Dollar

*    Non-income producing

(a)  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.

(b)  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.

(c)  In connection with transactions in repurchase agreements, it is the Fund's
     policy that its custodian take possession of the underlying collateral
     securities, the fair value of which exceeds the principal amount of the
     repurchase transaction, including accrued interest, at all times. If the
     seller defaults, and the fair value of the collateral declines, realization
     of the collateral by the Fund may be delayed or limited by legal
     proceedings.

**   At May 31, 2008, aggregate gross unrealized appreciation for all securities
     for which there was an excess of value over financial reporting cost was
     $85,121,883 and aggregate gross unrealized depreciation for all securities
     for which there was an excess of financial reporting cost over value was
     $20,590,059 and net appreciation for financial reporting purposes was
     $64,531,824. At May 31, 2008, aggregate cost for financial reporting
     purposes was $295,482,226.

<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 certifications required by Rule 30a-2(a) of the Investment Company Act of
1940 (17 CFR 270.30a-2(a)), as amended, are attached as exhibits 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/ Andrew Chen
    Andrew Chen
    President of The Taiwan Fund, Inc.

Date: July 23, 2008

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: July 18, 2008


By: /s/ Andrew Chen
    Andrew Chen
    President of The Taiwan Fund, Inc.

Date: July 23, 2008

</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.CERT
<SEQUENCE>2
<FILENAME>b71021a1exv99wcert.txt
<DESCRIPTION>CERTIFICATIONS
<TEXT>
<PAGE>

                                 CERTIFICATIONS

I, Andrew Chen, 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(s) 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(s) 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: July 23, 2008


/s/ Andrew Chen
Andrew Chen
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(s) 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(s) 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: July 18, 2008


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