TAIPEI (Taiwan News) — Chung-Hua Institution for Economic Research broke ground Thursday on its new headquarters in Taipei’s Beitou District, with relocation expected by 2028.

Located on the south side of Xinxing Park, the new building will house seven stories above ground with one underground level, per CNA. The headquarters aims to provide a sustainable, modern research environment for talent development and economic analysis.

At the groundbreaking ceremony, CIER Chair Tsao Tien-wang (曹添旺) said Taiwan is navigating unprecedented global shifts. He added the new headquarters will support the organization’s work in helping the government adapt to evolving challenges.

Cabinet Secretary-General Kung Ming-hsin (龔明鑫) praised the think tank’s contributions to Taiwan’s trade policy. He noted that after the US announced new tariffs, the government consulted CIER and the Taiwan Institute of Economic Research for analysis.

CIER employs over 400 employees including 100 full-time staff, per UDN. Tsao said he hopes the new facility will foster even stronger contributions to national development through rigorous research.

Residents showed strong interest in the new Beitou complex, joining staff at the ceremony and learning about the project’s design. CIER said the site will incorporate green landscaping and public walkways, welcoming the community into its future space.

Founded in 1981, CIER was established to maintain stable economic growth through independent policy studies. It began operations in a temporary office before relocating in 1984 to its current site in Daan District, Taipei.