Sheu Yuan-dong

Sheu Yuan-dong
Born	Template:Birth date Shinchiku Prefecture, Taiwan
Died	February 16, 1998(1998-02-16) (aged 70) Near Chiang Kai-shek International Airport, Taiwan
Occupation(s)	Banker, government official
Known for	15th governor of the Central Bank of Taiwan

Sheu Yuan-dong (traditional Chinese: 許遠東; 22 May 1927 – 16 February 1998) was a prominent Taiwanese official who held the position of the 15th governor of the Central Bank of Taiwan from 1995 until his passing in 1998. Born during the period of Japanese rule in Taiwan, Sheu completed his education at National Taiwan University’s Department of Political Science and occupied key leadership roles within Taiwan’s financial institutions. He perished in the crash of China Airlines Flight 676, alongside his spouse Huang Mian-mei and three additional officials from the central bank.

Life and career

Sheu entered the world on 22 May 1927 in Shinchiku Prefecture and relocated with his family to Taipei soon thereafter. His early education took place at Taipei State Second Middle School, followed by enrollment in the Political Department of National Taiwan University Law School in 1946. Amid the political turmoil of 1947, Sheu engaged in student protests and sought refuge after intellectuals were detained. In 1949, he was arrested in connection with the Keelung City Work Committee affair, but was released two years later, completing his academic pursuits by June 1952.

By 1954, Sheu had joined a group of Taiwanese intellectuals, including future president Lee Teng-hui, serving as educators at Taipei Private Yan Ping High School.

Sheu’s career in finance commenced in 1953 at the Taiwan Provincial Cooperation Treasury’s branch in Hualien. His professional trajectory included positions such as clerk at the Cooperative Treasury Research Office (1954), Planning Director for the Savings Department (1959), assistant manager roles within the treasury and Ministry of Agriculture Credit (1968), Deputy General Manager at Jinku Cooperative (1974), general manager posts at Land Bank (1979) and First Bank (1980), Finance Director at the Ministry of Finance (1982), Chairman of Land Bank (1984), Chairman of the Banking Association (1989), member of the Central Bank board (1990), and ultimately Chairman of Bank of Taiwan (1995).

On 20 March 1995, following Liang Kuo-shu’s resignation due to health concerns, Sheu was appointed governor of the Central Bank. His tenure is noted for successfully steering Taiwan through the 1997 Asian financial crisis with limited disruption, a testament to his adept stewardship over financial affairs.

Death

In February 1998, Sheu traveled with Chen Huang and other senior central bank foreign exchange bureau officials to participate in the Presidents Association meeting of Southeast Asian central banks held in Bali, Indonesia. On February 16, while returning aboard China Airlines Flight 676 to Chiang Kai-shek International Airport, the aircraft crashed during its final approach due to pilot error. The accident resulted in the deaths of all 196 passengers on board, including Sheu, as well as six individuals on the ground. Subsequently, then-president Lee Teng-hui designated Perng Fai-nan as Sheu’s successor at the Central Bank.

During Sheu Yuan-dong’s governorship, Paul Chiu fulfilled duties as vice president of the central bank.

Legacy

To commemorate the tenth anniversary of Sheu’s passing on February 16, 2008, leaders within Taiwan’s financial community invited the Alban Berg Quartet, who had maintained a close association with Sheu, to perform in Taiwan. A tribute concert was organized on May 14, 2008.

Biographical Publishing

On October 3, 2010, a biography of Sheu Yuan-dong was released, co-written by his daughter Sheu Chiu-chen alongside journalist Lu Shih-hsiang. The publication highlights Sheu's firm advocacy for Taiwanese sovereignty and his opposition to foreign domination:

Additionally, Sheu voiced criticism toward then-Executive Yuan president Vincent Siew regarding his approach to managing the 1997 Asian financial crisis. He also expressed apprehension when finance minister Wang Chien-shien established a private bank in 1990.

External links

• 認識央行歷任首長 [Overview of the Central Bank's Past Leaders] (in Chinese)
• 許遠東先生暨夫人紀念文教基金會 [The Mr. and Mrs. Sheu Yuan-dong Memorial Cultural and Educational Foundation] (in Chinese) (Archive)
• 延平學院能否從二二八悲情中重生？ [Is Yanping College Capable of Reviving after the 228 Tragedy?] (in Chinese) (Archive)