Hubei Financial News

Apple (NASDAQ:AAPL) shares fell 1.5% in early Monday trade as investors were digesting updates from China.

shrinking population, China’s approach to surrogacy is rather counterproductive—to say nothing of its effect on families. With couples waiting longer to have children, demand for surrogacy in China seems to be growing. By one estimate, over 10,000 babies are born via the process every year in the country.

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

By Yimou Lee and Ben Blanchard

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.

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.