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Foxconn Faces Tax and Land Use Investigations at Multiple Sites in China

Chinese officials are looking into Taiwanese IT firm Foxconn over tax and land usage issues.

Taiwanese tech giant Foxconn is under investigation by Chinese authorities regarding tax and land use matters. 

The inspections are taking place at several Foxconn sites across China, including those in Guangdong and Jiangsu provinces.

Land Use Investigations in Hunan and Hubei:

Additionally, on-site investigations into Foxconn’s land use practices are being conducted in central Hunan and Hubei provinces. However, the details of what authorities look into have not been disclosed.

In response to the investigations, Foxconn issued a statement emphasizing the company’s commitment to global compliance with the law. 

The statement assured active cooperation with the relevant authorities but did not provide further details on the ongoing investigations.

Foxconn’s Global Significance:

Foxconn is one of the world’s largest electronics contract manufacturers and is a key supplier for Apple’s iPhones. China’s largest private-sector employer also employs over a million people nationwide.

The investigation into Foxconn comes as Taiwan prepares for presidential elections, scheduled to take place in self-ruled Taiwan. China claims Taiwan as its territory and has expressed aspirations to reunify with it.

Terry Gou’s Political Ambitions:

Notably, Foxconn’s founder, billionaire Terry Gou, has distanced himself from the company to focus on his independent bid in Taiwan’s January 2024 elections. 

Terry Gou failed to secure the nomination of the opposition Kuomintang (KMT) party in 2019 and is considered a long-shot candidate for the upcoming elections.

There have been allegations of a close relationship between Terry Gou and the Chinese leadership. However, Gou has stated that he aims to bring peace and improve relations between Taipei and Beijing.

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