US sanctions on China send Taiwan tech exports to mainland, Hong Kong surging

US sanctions on China send Taiwan tech exports to mainland, Hong Kong surging

Taiwanese exports of hi-tech goods to China have accelerated in recent months as Chinese companies look to end their reliance on American technology and replace components no longer available due to US sanctions.

US president-elect Joe Biden is not expected by analysts to call off the trade war initiated by the Trump administration in July 2018, or ease restrictions on Chinese tech firms such as telecoms network giant Huawei Technologies Co. early in his term.

Ongoing hostilities could prove a major boost to Taiwan, a global leader in the production of semiconductors and hi-tech goods, as China still relies on imported technology like computer chips for devices it manufactures.

In November, Taiwan’s total exports rose to a record US$32 billion, a jump of 12 per cent over the same month last year, the Ministry of Finance said on Monday, with electronics exports contributing significantly.