The Ministry of Economic Affairs (MOEA) has approved TSMC's (Taiwan Semiconductor Manufacturing Company) US$3 billion investment to build a wholly-owned 12-inch wafer fab in Nanjing, China—the first such facility with a record high investment ever done by Taiwanese companies in the mainland— reported the Commercial Times on February 4. The facility is scheduled to produce 16nm chips in the second half of 2018 with a monthly capacity of 20,000 wafers. The investment is expected to further advance TSMC's global lead position from 55% to 57% by 2018, and its Chinese market share from 46% to 50%. Meanwhile, TSMC promised to invest around NT$860 billion (US$25.8 billion; US$1=NT$33.3) over the next three years since 2016 and provide 2,500 to 3,000 job opportunities in Taiwan each year.