Apple supplier Foxconn to work with China on unspecified probes
CHINESE officials are conducting tax audits and reviewing the land use of iPhone assembler Foxconn Technology Group, the state-run Global Times newspaper reported on Sunday (Oct 22), as the company’s founder is running for president of Taiwan.
Tax authorities are conducting checks on Foxconn subsidiaries in Guangdong and Jiangsu provinces, while natural resources officials are looking into the company’s use of land in Henan and Hubei provinces, Global Times reported. It cited unidentified people with knowledge of the matter.
No further details of the investigations and tax checks were provided in the report. Henan is where Foxconn’s Zhengzhou plant, known as iPhone City, is located.
Foxconn billionaire founder Terry Gou resigned from the company’s board last month as he campaigns to become president of Taiwan.
A Foxconn representative did not immediately respond to a Bloomberg request on Sunday for comment. Gou’s campaign referred questions to Foxconn.
He previously dismissed claims he would be susceptible to Chinese pressure, were he to win January’s election.
“I will not bow to China’s threats,” Gou said at the August briefing announcing his presidential bid. Name-checking key customers including Apple, Tesla and Nvidia, he said any halt to production due to political pressure would disrupt supply chains – something China would need to explain to the world. BLOOMBERG
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