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Taiwan to let LCD, chip makers invest in China-paper

Post Time:Jul 31,2009Classify:Industry NewsView:435

TAIPEI, July 29 (Reuters) - Taiwan plans to allow local flat panel makers and chipmakers to invest their advanced process technologies in China, the Economic Daily said on Wednesday, in the latest indication of warming business ties on both sides.

Flat panel makers will be able to make products on the mainland, building up to ninth-generation technology facilities, the newspaper said, citing unidentified government officials.

Chip companies would be able to make products with 0.18 micron technology, and more advanced process technologies, the Chinese-language paper said.

Woody Duh, director general of the industrial development bureau at Taiwan's economics ministry, said his bureau had submitted a report on allowing industries to invest in China to the economics minister, but declined to elaborate.

"The government is still in the process of working on it. We have not made any comments to the public," Duh said.

Taiwan companies have been waiting for more openings into the mainland market, but the island's government has been wary of the hollowing out the domestic economy by allowing companies to export advanced technologies.

About 15 minutes into trade on Wednesday, shares of AU Optronics (2409.TW), Taiwan's top LCD maker, were up 0.68 percent. TSMC (2330.TW), the world's No.1 contractchip maker, slipped 0.17 percent, while the main index was up 0.42 percent.

Source: ReutersAuthor: shangyi

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