In the past 50 years Taiwan (officially Republic of China) has rapidly grown from an agricultural country to a highly industrialized nation. Taipei is the political capital as well as the economic and cultural centre of the country with its 23.2 million inhabitants. National brands such as ACER and ASUS (computers), HTC (smartphones), Foxconn (Electronics OEM) and Giant Bicycles are headquartered in Taipei City. The Taipei Metropolitan Area which includes Taipei, New Taipei and Keelung is home to almost 7 million people. The GDP per capita of the region is one of the highest in Asia.
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