TAIPEI (Taiwan News) – Amid concern over the trade war with the United States, Taiwanese companies invested 50 percent less in China during the first half of this year compared to the same period in 2018, the Ministry of Economic Affairs (MOEA) said Monday (July 22).
The US$2 billion (NT$62 billion) figure amounted to a drop of 51.01 percent, the United Daily News reported, while the amount of cases approved fell by 10.76 percent to 282 in the first half of 2019.
In the other direction, the total number of approved cases of foreign investment in Taiwan climbed by 3.31 percent to 1,718, according to official data. Expressed in dollars, the total surged 16.99 percent to US$3.5 billion.
Two of the largest cases involved investments by Japan’s Hitachi in a local elevator manufacturer and by ANZ Bank of Australia to expand its local operations, the United Daily News reported.
Among the New Southbound Policy countries, Australia, Singapore and Indonesia showed the fastest increases in investment.
The number of approved Chinese investments in Taiwan dropped by 8.82 percent to 62 during the first half of 2019 compared to the same period last year, with their value plunging by 65.48 percent to US$47 million, according to the MOEA figures.