China Launches Investigations into Foxconn Amidst Founder's Taiwan Presidential Bid

Trade & Border IssuesHot Spots
Written By Jennifer Joslyn

China's tax authorities have initiated multiple investigations into Foxconn, the company responsible for manufacturing iPhones, following the announcement by Foxconn's founder, Terry Gou, that he would run for Taiwan's presidential elections. The investigations include tax audits of Foxconn's operations in China and inquiries into land use in two Chinese provinces. Although not officially announced by Chinese government departments, these investigations are believed to have political motivations. Foxconn, Apple's largest iPhone supplier, stated that it would cooperate with the investigations. This development comes amidst escalating tensions between China and Taiwan, as well as ongoing economic challenges in China.

Read more at the Guardian >

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Jennifer Joslyn
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