Foxconn: iPhone-maker investigated by Chinese authorities

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Shoppers look at two of the newly launched iPhone 15, on September 22, 2023 in Beijing, China.Frayer, Kevin
authored by Peter Hoskins
columnist for business
Foxconn, an phone manufacturer based in Taiwan, has been the subject of an investigation by China, Chinese state media reported on Sunday.

According to The Global Times, citing unnamed sources, income inspections were carried out at Foxconn locations in two Chinese provinces.

Foxconn promises to work with the research.

The company, formerly known as Hon Hai Precision Industry Co Ltd, is one of the world’s largest companies and the largest iPhone manufacturer.

The Natural Resources Department of China, according to The Global Times, conducted on-site investigations into the area use by significant Foxconn companies in the provinces of Henan and Hubei.

A fundamental tenet of Hon Hai Technology Group( Foxconn ) is” Legal compliance everywhere we operate around the world ,” the business stated.

It continued,” We will actively work with the pertinent products on the related work and procedures.”

Terry Gou, the leader of Foxconn, is running independently in Taiwan’s national election, which is scheduled to take place in January.

Given that tensions between Taiwan and China have increased over the past year, the poll is anticipated to have a major impact on their marriage. As Beijing’s assertions over the autonomous area have become more adamant, political candidates have presented their contrasting ideas on how to react.

Based on his years of experience working in China, Mr. Gou has positioned himself as a viable alternative to the Democratic Progressive Party ( DPP ), which is viewed as hostile to Beijing.

However, when he declared his candidacy for the Chinese Communist Party, the candidate responded,” I may say, Yes, please, would it!” He claimed, despite his lack of fear of China.

In September, he announced his intention to run for president and resigned from his position on Foxconn’s table. He announced his second presidential run in 2019 and took over management of the business, but he still owns a 12.5 % interest in Foxconn.

He belonged to the Kuomintang( KMT ), a significant political party in Taiwan that is regarded as Beijing-friendly, at the time.

According to The Global Times,” some people” in Taiwan believe Foxconn is under investigation as a result of Mr. Gou’s presidential campaign.

But, the state-run newspaper also stated that Foreign experts claimed the investigation” is standard and genuine, as any organization goes through tax inspections.”

According to experts cited by The Global Times, the research may have an impact on the elections and that” if the separatists who seek” Taiwan freedom” win, that would be a huge disaster for the region’s peace and stability, and the Taiwanese people on both sides of the Taiwan Straits, including those in the business community, should work together to prevent disaster from occurring.”

Taiwan just has formal diplomatic relations with a select few nations because Beijing insists that states may have established relationships with both China and Taiwan. The US continues to be Taiwan’s most significant friend even though it only maintains diplomatic ties with China.

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