Taiwan Financial News

China said the United States is the «biggest disruptor of regional peace and stability» in the world in a scathing response Wednesday to a Pentagon report on China's growing military buildup. The annual report that is required by Congress is one way the Pentagon measures the military capabilities of China, which the US government sees as its key threat in the Asia-Pacific region and America's primary long-term security challenge.

BEIJING (Reuters) -Taiwanese companies should assume their social responsibilities and play a «positive role» in promoting the peaceful development of relations across the Taiwan Strait, China's government said on Wednesday, amid a probe into major Apple (NASDAQ:AAPL) supplier Foxconn.

For decades, Apple has navigated an escalating series of challenges in China, from fake stores and factory protests to tightening censorship and app rules. Now, the iPhone maker risks getting dragged into the most volatile issue in U.S.-China relations: the future of Taiwan. On Sunday, Taiwanese contract manufacturer Foxconn Technology—one of Apple’s largest suppliers—said it is cooperating with Chinese authorities after state media reported China had opened tax and land-use probes into the company.

California Gov. Gavin Newsom opened a weeklong trip to China with an assurance that his state will always be a partner on climate issues no matter how the U.S. presidential election turns out next year

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

Asian shares are mixed after Wall Street wobbled to a mixed close as yields on U.S. Treasury bonds fell back after jumping above 5%

Foxconn, saying Beijing should «cherish» Taiwanese companies and not put pressure on them during an election. Foxconn is facing a tax probe in China, two sources close to the company said on Monday, confirming a report in China's state-backed Global Times.

While the world’s eyes were fixed on the unfolding horrors of the latest Middle East war, China was busy pushing the envelope in the South China Sea. On Sunday, a Chinese coast guard vessel and another Chinese ship rammed a Philippine supply boat and coast guard ship in international waters claimed by China around the Spratly Islands. The State Department gravely noted that the Chinese actions “violated international law," but China appears unimpressed.

Investing.com-- Most Asian currencies advanced on Tuesday, reversing some recent losses as the dollar retreated from 2023 peaks before a string of key economic readings due this week, although risk appetite still remained weak.

Biden and Xi have not engaged in any discussions since their last meeting in November, which took place on the sidelines of the Group of 20 summit in Bali, Indonesia. Tensions between the world's leading economies have remained consistently elevated throughout the past year.

By Yimou Lee and Ben Blanchard

Foxconn Technology Group, Apple Inc.’s most important partner and one of the largest employers in China. Over the weekend, state media said that regulators are conducting tax audits and reviewing land use by Foxconn, the Taiwanese company that makes the vast majority of iPhones at factories in China. Hon Hai Precision Industry Co., Foxconn’s public arm, said it will collaborate with authorities. Meanwhile, an executive and two former employees of WPP Plc, one of the world’s biggest advertising companies, have been arrested in China, people familiar with the matter said.

Foxconn, a major supplier of Apple's iPhones, dropped as much as 3% on Monday after a report that the company is the subject of tax audits and land use probes in China. China's state-backed the Global Times said some of Foxconn's key subsidiaries in China were the subject of tax audits and that China's natural resources department had also conducted on-site investigations on the land use of Foxconn enterprises in Henan and Hubei provinces and elsewhere. Foxconn said in a statement on Sunday that legal compliance was a «fundamental principle» of its operations everywhere, and that it would «actively cooperate with the relevant units on the related work and operations». It declined further comment on Monday. Foxconn makes most iPhones at the Zhengzhou plant in Henan province where it employs about 200,000 people, though it has other smaller production sites in India and southern China. The Global Times did not give details of the tax or land use probes, which have not been officially announced by any Chinese government department. The report comes less than three months before Taiwan votes in presidential and parliamentary elections.

standard procedures applied to enterprises suspected of violating rules and regulations, Zhang Wensheng, the deputy dean of the Taiwan Research Institute of Xiamen University told the Global Times. Zhang emphasized that it is essential for Foxconn's subsidiaries to cooperate actively with these audits and investigations, as per a Reuters report.

China increased the deployment of forces and continued infrastructure build-up, including underground storage facilities near Doklam, a second bridge over Pangong Lake and a dual-purpose airport and multiple helipads, along the LAC in 2022 amid border tensions with India, a Pentagon report has said. The Indian and Chinese troops are locked in an over three-year confrontation in certain friction points in eastern Ladakh even as the two sides completed disengagement from several areas following extensive diplomatic and military talks.

Nvidia, Foxconn to Develop New Class of Data Centers Focused on AI As per the report, China's natural resources department has initiated on-site investigations into the land usage of Foxconn enterprises located in Henan province, Hubei province, and other areas. The developments were disclosed in an exclusive report by Chinese media major, the Global Times.

China's natural resources department also conducted on-site investigations on the land use of enterprises of Foxconn in Henan, Hubei provinces and other places, according to the exclusive report in the nationalist tabloid, the Global Times. It did not elaborate on the investigations or the timing of them.

BEIJING (Reuters) — Foxconn Technology Group, Apple Inc (NASDAQ:AAPL)'s largest supplier of iPhones, has been subjected to tax audits at some of its key subsidiaries, suspected of violating laws and regulations, Chinese state media reported on Sunday.

Pixel smartphone in India, Apple's largest contract manufacturer Foxconn spoke about the «beginning of the Bharat era». Foxconn's India representative V Lee posted on LinkedIn photos of the company's Hon Hai Tech Day 2023 that took place on October 18 and captioned it, «Great event with so much India ambitions, beginning of the Bharat era, devoting to EVs and semiconductors.» In September, ET reported that Foxconn was evaluating several states, including Tamil Nadu, where the Taiwanese company has mature operations. Lee had responded to a post on LinkedIn that featured an ET report about Tamil Nadu emerging as a hub for EV investments with the comment, «Coming,» signalling the company's interest in possibly choosing Tamil Nadu as the safe harbour for its ambitious electric vehicle (EV) plans. «Foxconn is exploring EV opportunities with few states in India, including Tamil Nadu,» Lee told ET. «Our chairman (Young Liu), too, has said that regionalised production for cars is natural which is why we had our factory in Ohio and we are going to have one in Thailand.

Foxconn has spoken about the «beginning of the Bharat era.» Foxconn's India representative V Lee posted on LinkedIn photos of the recently concluded Hon Hai Technology Day 2023 that took place on October 18 and captioned it, «Great event with so much India ambitions, beginning of the Bharat era, devoting to EVs and semiconductors.»

Chinese Consulate in San Francisco last week is said to be armed with a knife and had a loaded crossbow in his car. Zhanyuan Yang, the driver in a blue sedan was then fatally shot by police on October 9.