2023-10-25 10:17:01
Several Foxconn factories located in China (here, in Zhengzhou) have reportedly received visits from tax inspectors. VCG via Getty Images
The investigations targeting the Taiwanese group in China are increasing nervousness among other international groups.
Correspondent in Asia
China is putting obstacles in the way of Terry Gou in his race for the presidency in Taiwan. The founder of Foxconn, the main subcontractor of Apple and other major global technology brands, sees his company targeted by several investigations on the continent, at a time when the Taiwanese billionaire has launched the election to the highest office in Taipei. Several of the group’s factories in the provinces of Guangdong and Jiangsu received visits from tax inspectors, according to the Global Times, daily newspaper affiliated with the Communist Party. The announcement sent the stock down 3%. “We actively cooperate with the authorities» immediately declared the company which employs around 720,000 people in China. Sites in the central provinces of Hebei and Hunan are also in the sights of the Ministry of Natural Resources, signaling a coordinated offensive against the empire founded by Gou.
The timing fuels the hypothesis of a political warning from Beijing…
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