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March 19th – The 71st meeting of the APEC Energy Working Group was successfully held in Nanchang, Jiangxi Province, from March 18th to 19th. The meeting focused on the theme of the 2026 APEC China Year, "Building an Asia-Pacific Community for Common Prosperity," and proposed the energy theme of "Building an Inclusive, Innovative, and Collaborative Asia-Pacific Energy Community." Representatives from various economies conducted in-depth discussions on the implementation of existing initiatives and the design of outcomes for the 2026 APEC China Year, focusing on three priority areas: "High-Quality Universal Energy Services," "Artificial Intelligence + Energy," and "Asia-Pacific Energy Collaborative Governance." They exchanged views frankly and laid the groundwork for reaching consensus on energy-related outcomes for the 2026 APEC China Year.On March 19, the Shenzhen Municipal Peoples Government and China Southern Power Grid Co., Ltd. signed a framework agreement in Shenzhen to comprehensively deepen their strategic cooperation during the 15th Five-Year Plan period. According to the agreement, both parties will adhere to the principles of "forward-looking planning, innovation-driven development, pioneering demonstration, mutual promotion, and common development," jointly promoting long-term strategic cooperation in areas such as energy transition, power grid construction, business environment, science and industry integration, international exchange and cooperation, and reform demonstration, and successfully completing major power supply tasks such as the APEC meeting.On March 19th, TrendForce reported that two major semiconductor foundries, TSMC and Samsung Electronics, have raised prices for their main advanced AI chip manufacturing processes, 5nm and 4nm. TSMCs 5nm/4nm, 3nm, and 2nm node capacities will continue to be fully utilized, and prices for these processes have been increased across the board. Samsungs 5nm/4nm order volume has also increased significantly, leading to a price increase notice to customers in Q4 2025.The European Parliament will vote on the US-EU trade agreement next week.Bank of America raised its price target for Micron Technology (MU.O) from $400 to $500.

Foxconn Is Expected to Shortly Be Fined For Unapproved China Investment

Skylar Williams

Dec 19, 2022 12:12

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Foxconn, the world's largest contract electronics manufacturer, is likely to be penalized by Taiwan's government for an unauthorized investment in a Chinese chip manufacturer, a source with direct knowledge of the case said Monday.


Taiwan, which Beijing claims as sovereign Chinese territory, keeps a cautious eye on China's ambitions to expand its semiconductor sector and is tightening regulations to prevent China from stealing its chip technology, as it sees it.


Foxconn, a key Apple Inc. (NASDAQ:AAPL) supplier and iPhone manufacturer, reported in July that it was a stakeholder in troubled Chinese semiconductor firm Tsinghua Unigroup, but said late Friday that it will sell the stock. Saturday, Taiwan said it will penalize Foxconn for the investment.


The acquisition had not been approved by Taiwan's government, which must authorize all overseas investments. Taipei also prevents corporations from constructing their most advanced semiconductor foundries in China, ensuring that they do not export their most advanced technologies.


Monday, the Economy Ministry will call Foxconn to confirm the share transaction, a source familiar with the matter told Reuters.


"Even if the investment was subsequently withdrawn, it has been established that they invested first, and they will be penalised," a person who was not authorized to talk to the media said.


"It shouldn't take too long for Hon Hai to be penalized," the insider continued, referring to the formal name of the corporation, Hon Hai Precision Industry Co Ltd.


Reuters earlier reported that the corporation might face a punishment of up to T$25 million (about $813,749)


Foxconn declined to comment.


Tsinghua Unigroup has not provided a response to a request for comment on the withdrawn investment.


According to Taiwanese legislation, the government may restrict investments in China based on "national security and industrial development considerations." Repeatedly fining lawbreakers until adjustments are made is a possibility.


Foxconn has been pursuing the acquisition of global chip manufacturing facilities in response to a global chip shortage that has shaken the automotive and electronics industries. As it develops into the electric car sector, it is eager to manufacture auto chips in particular.

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