Chinese state media report that Foxconn, a Fortune 500 company known globally for making Apple iPhones, was recently subjected to searches by Chinese tax authorities. Such a move against a major Taiwanese enterprise in China is rare. Tensions have been high between China and Taiwan in recent years.
FILE - The Foxconn logo is seen during the Hon Hai Tech Day at the Nangang Exhibition Center in Taipei, Taiwan, on Oct. 18, 2022. Foxconn, a Fortune 500 company known globally for making Apple iPhones, was recently subjected to searches by Chinese tax authorities, state media reported Sunday, Oct. 22, 2023. BANGKOK — Foxconn, a Fortune 500 company known globally for making Apple iPhones, was recently subjected to searches by Chinese tax authorities, state media reported Sunday.
The Ministry of Natural Resources also inspected Foxconn offices in Henan and Hubei provinces, where the company has major factories. Foxconn employs hundreds of thousands of workers across China.
Tensions have been high between China and Taiwan in recent years. China claims the democratic self-governing island of Taiwan as part of its own territory. The sides split in 1949 after a civil war and have no official relations but are linked by billions of dollars in The Chinese Communist Party regularly flies fighter planes and bombers near Taiwan to enforce its stance that the island is obliged to unite with the mainland,
The tensions have occasionally spilled over into the economic realm. In recent years, China has banned pineapples, grouper fish and other agricultural products from Taiwan for import.Foxconn does the vast majority of its manufacturing in China. The company did not respond to a request for comment.that he would be running as a candidate in Taiwan’s presidential elections, which will be held early next year. He then resigned from his seat on the board of Foxconn.
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