The nation’s listed companies reported combined Chinese investment gains of NT$154.3 billion (US$5.23 billion) in the first half of the year, up 37 percent year-on-year, and the highest for the period, Financial Supervisory Commission data released on Tuesday showed, as some companies recovered from the COVID-19 pandemic and benefited from rising demand for devices used for remote working.
Chinese investment gains plunged 36 percent annually to NT$23.3 billion in the first quarter due to the COVID-19 outbreak, but increased 72 percent to NT$131 billion in the second quarter, the data showed.
“Demand for remote-working devices and consumer electronics rose, as people needed to work from home while under lockdown, which benefited our electronic providers,” Securities and Futures Bureau Deputy Director-General Tsai Li-ling (蔡麗玲) said.
Listed companies trimmed their investments in China by NT$4 billion in the second quarter, despite investment gains, data showed.
As of the end of June, listed firms’ accumulated investment in China totaled NT$2.524 trillion, up NT$13.4 billion from the end of last year, while the number of listed firms with investments in China dropped to 1,191, seven fewer than the end of last year, data showed.
Tsai said that the number of listed companies investing in China tends to fluctuate, so it was uncertain whether the pandemic could be blamed for firms leaving the market.
“While some firms left the market, other companies continued expanding production there or set up new subsidiaries,” Tsai said. “Computer firms and electronic component providers particularly increased their investment.”
Listed companies repatriated NT$18.1 billion of investment gains to Taiwan during the first half of this year, accounting for 20.15 percent of their total investment in China, data showed.
That raised accumulated repatriated funds to NT$508.7 billion, data showed.
Total overseas investment gains by listed firms increased 5 percent annually to NT$209.3 billion in the first half, thanks to a 41 percent increase in gains in the second quarter of NT$171.6 billion boosted by an increase in orders for devices used for remote working, Tsai said.
Taiwan Semiconductor Manufacturing Co (TSMC, 台積電), the world’s largest contract chipmaker, yesterday said its materials management head, Vanessa Lee (李文如), had tendered her resignation for personal reasons. The personnel adjustment takes effect tomorrow, TSMC said in a statement. The latest development came one month after Lee reportedly took leave from the middle of last month. Cliff Hou (侯永清), senior vice president and deputy cochief operating officer, is to concurrently take on the role of head of the materials management division, which has been under his supervision, TSMC said. Lee, who joined TSMC in 2022, was appointed senior director of materials management and
Nvidia Corp CEO Jensen Huang (黃仁勳) on Thursday met with US President Donald Trump at the White House, days before a planned trip to China by the head of the world’s most valuable chipmaker, people familiar with the matter said. Details of what the two men discussed were not immediately available, and the people familiar with the meeting declined to elaborate on the agenda. Spokespeople for the White House had no immediate comment. Nvidia declined to comment. Nvidia’s CEO has been vocal about the need for US companies to access the world’s largest semiconductor market and is a frequent visitor to China.
Hypermarket chain Carrefour Taiwan and upscale supermarket chain Mia C’bon on Saturday announced the suspension of their partnership with Jkopay Co (街口支付), one of Taiwan’s largest digital payment providers, amid a lawsuit involving its parent company. Carrefour and Mia C’bon said they would notify customers once Jkopay services are reinstated. The two retailers joined an array of other firms in suspending their partnerships with Jkopay. On Friday night, popular beverage chain TP Tea (茶湯會) also suspended its use of the platform, urging customers to opt for alternative payment methods. Another drinks brand, Guiji (龜記), on Friday said that it is up to individual
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