Taiwan says Foxconn needs govt approval for any China chip firm investment


Source: fxempire.com fxempire.com

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TAIPEI (Reuters) – Taiwan’s Foxconn, the world’s largest contract electronics maker, would need Taiwanese government permission if its unit were to invest in embattled Chinese chip conglomerate Tsinghua Unigroup, a government official said on Thursday. Taiwan media has reported that Foxconn’s China-listed unit Foxconn Industrial Internet Co Ltd plans to spend 9.8 billion yuan ($1.46 billion) for a stake in Unigroup, as part of Foxconn’s plans to get more into chip-making. The island’s government has become increasingly cautious about China’s ambition to boost its semiconductor industry and has proposed new laws to prevent what it says is China stealing its...