Taiwan’s investment in China up 22.52 percent


TAIPEI, CNA

The Investment Commissionunder the Ministry of Economic Affairs (MOEA) approved 593 applications for investment in China during the first seven months of this year, amounting to US$4.83 billion, or a year-on-year rise of 22.52 percent, according to tallies released by the commission Tuesday.

The tallies also show that the commission approved a total of 1,233 applications for direct foreign investment in Taiwan during the January-July period, for a total worth of US$7.17 billion, down 13.99 percent from the same period of last year.

However, if Philips Taiwan’s sale last year of its Taiwan Semiconductor Manufacturing Co. (TSMC) shares to its parent — Royal Philips Electronics of the Netherlands — is excluded, then direct foreign investment in Taiwan would have grown 56.14 percent from the year-earlier level, the tallies state.