The yuan has appreciated in the past two years and that pace "should continue," a top US official said on Friday.
Alan Holmer, special envoy for China and the Strategic Economic Dialogue between the US and China, said that the yuan had gained "a little over 18 percent" since July 2005.
"The accelerating rate of appreciation is significant and welcome and we believe it should continue," he told a news conference on US Treasury Secretary Henry Paulson's trip to China next week.
The politically charged issue of the yuan's value against the dollar will be among the issues Paulson is expected to raise at his meetings with Chinese government officials in Beijing on Wednesday and Thursday, he said.
Taiwan Semiconductor Manufacturing Co (TSMC, 台積電), the world’s biggest contract chipmaker, booked its first-ever profit from its Arizona subsidiary in the first half of this year, four years after operations began, a company financial statement showed. Wholly owned by TSMC, the Arizona unit contributed NT$4.52 billion (US$150.1 million) in net profit, compared with a loss of NT$4.34 billion a year earlier, the statement showed. The company attributed the turnaround to strong market demand and high factory utilization. The Arizona unit counts Apple Inc, Nvidia Corp and Advanced Micro Devices Inc among its major customers. The firm’s first fab in Arizona began high-volume production
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The Taiwan Automation Intelligence and Robot Show, which is to be held from Wednesday to Saturday at the Taipei Nangang Exhibition Center, would showcase the latest in artificial intelligence (AI)-driven robotics and automation technologies, the organizer said yesterday. The event would highlight applications in smart manufacturing, as well as information and communications technology, the Taiwan Automation Intelligence and Robotics Association said. More than 1,000 companies are to display innovations in semiconductors, electromechanics, industrial automation and intelligent manufacturing, it said in a news release. Visitors can explore automated guided vehicles, 3D machine vision systems and AI-powered applications at the show, along
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