Taiwanese corporate investment in China tripled last month from a year ago as companies such as AU Optronics Corp (友達光電) and Taiwan Semiconductor Manufac-turing Co (TSMC, 台積電) expanded their factories in the world's seventh-largest economy.
Approved investment increased to US$1.02 billion from US$318 million, the Investment Commission said. TSMC, the world's largest made-to-order chipmaker, was allowed to invest US$371 million in its first chip-making plant in China, boosting the overall figure.
The government has kept local chipmakers out of China on concern the nation would lose jobs, investment and advanced technology. Chipmakers want to move some production to China to be closer to electronics manufacturers in the world's largest market for cellphones and the second largest for personal computers.
"Taiwan's decision to let go control of its chipmakers will prompt some mega investment deals in China," said Vickie Hsieh, chief economist at President Securities Corp (統一證券).
"TSMC's investment in China will prompt other related companies to invest in the mainland," she said.
Hon Hai Precision Industry Co (鴻海精密), the nation's biggest electronics company by sales, and AU Optronics, the country's largest maker of flat-panel displays used in computers and televisions, also received approval to invest in China last month, according to the commission.
In the first five months, Tai-wanese corporate investment in China rose to US$2.8 billion from US$1.7 billion, the commission said.
Taiwanese corporate investment in China rose to a record US$4.6 billion last year as companies shifted production to take advantage of wages as little as a 10th those in Taiwan and to tap growing demand in cities such as Beijing and Shanghai.
Overseas companies' investment in this country declined to US$186 million last month from US$261 million a year ago, the commission said.
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