It is imperative for the island to remain competitive as countries including the United States, Japan and South Korea offer billions to bolster their chip industries, the economy ministry said

Taiwan, home to the world's largest contract chipmaker, TSMC, plays an outsized role in providing chips used in everything from cars to fighter jets

"We're going to compete vigorously. But I'm not looking for conflict," US President Joe Biden said after meeting Xi on the sidelines of the G20 summit

Taiwan is creating tensions by colluding with external nations, Chinese foreign ministry spokesman Zhao Lijian said on Tuesday

The proposed plant will be located in Toayuan in Northern Taiwan, with TSMC yet to confirm the claim which came from a close source, Taiwan News said

The two countries are considering using US tech to produce weapons in Taiwan, or producing the weapons in the United States using Taiwanese parts

The Tesla billionaire has argued that allowing Beijing a say in running the disputed island would reduce tensions

The head of Taiwan's Mainland Affairs Council said Xi will consolidate his power at the party congress – and that will spell trouble for the island nation

The chiefs of Boeing Defense, Space, and Security, and Raytheon Technologies, will be hit with sanctions after the latest US-Taiwan arms sale, China says

World's largest contract chipmaker TSMC is building a $12 billion semiconductor plant in US state of Arizona

US tech giant Apple told its Taiwan suppliers that products moving to China must be labelled to state that the island is a part of China and not an independent nation

Azis Armand, chief executive of Indika, Indonesia's third biggest coal producer, said a feasibility study for the proposed joint venture is being prepared