Thu, Jul 22, 2004 - Page 10 News List

Taiwanese investment in China increases 68%

AFP , TAIPEI

Taiwanese investment in China in the first half of the year reached US$3.39 billion, a 68.18 percent year-on-year rise, the Investment Commission under the Ministry of Economic Affairs said yesterday.

The commission said it had approved 1,074 investment applications during the first half of the year, even as it called for caution because of China's macroeconomic controls and power shortages.

Among the applications approved were those by Taiwan Semiconductor Manufacturing Co (台積電), Hon Hai Precision Industry Co (鴻海精密) and AU Optronics Corp (友達光電), officials said.

The commission called on Tai-wanese firms to consider investing more in Southeast Asia, South Asia and Eastern Europe. It also approved 341 applications for investments in other countries for a total of US$1.42 billion.

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