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Taiwan’s companies invested a record amount of money in the US and Japan last year while the figure for China stagnated — highlighting supply-chain shifts resulting from worsening cross-strait ties.
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Bloomberg News
Bloomberg News
Published Jan 15, 2025 • 1 minute read
(Bloomberg) — Taiwan’s companies invested a record amount of money in the US and Japan last year while the figure for China stagnated — highlighting supply-chain shifts resulting from worsening cross-strait ties.
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Flows into the US reached $14.1 billion in 2024, driving total Taiwanese foreign direct investment to $48.6 billion, both record highs, according to Bloomberg News calculations based on a statement from the Economic Ministry. The ministry on Wednesday linked the surge to Taiwan Semiconductor Manufacturing Co.’s overseas investments, such as for a plant in Arizona.
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Firms’ expenditures going into Japan, Canada and Singapore also hit records. In contrast, new investments into China rose only slightly to $3.65 billion last year. They accounted for only 7.5% of companies’ total overseas spending — the lowest in data going back to 1991.
The figures come as the Biden administration offers firms like TSMC grants and loans to start production in the US to revitalize American chip manufacturing. Foreign tech companies have also moved some facilities outside China as the tech rivalry with the US heated up.
A subsidiary of Taiwanese firm Hon Hai Precision Industry Co. announced on Wednesday it spent $128 million to buy land in California. Taiwanese companies are looking to invest in the US to try and reduce tensions and avert tariffs from the incoming US administration.
On Tuesday, the US finalized a rule that effectively bans new personal smart cars from China and Russia.
—With assistance from James Mayger.
(Updates with investment by Hon Hai subsidiary in fifth paragraph.)
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English (US)