Billionaire Terry Gou’s Foxconn Under Investigation, Says China State Media
The post Billionaire Terry Gou’s Foxconn Under Investigation, Says China State Media appeared on BitcoinEthereumNews.com. Terry Gou, founder and former chairman of Foxconn and independent Taiwanese presidential candidate, speaks during a press conference in Taipei on September 14, 2023. Sam Yeh/AFP via Getty Images Chinese authorities have conducted tax inspections on Foxconn in the provinces of Guangdong and Jiangsu, the Global Times reported on Sunday. The Taiwanese manufacturing giant has also been subjected to on-site investigations by natural resources officials looking into its land use in Henan and Hubei provinces, according to the same report, which cites anonymous sources and provides no further details on the probes. Foxconn said Monday that it will “cooperate with the relevant units on the related work and operations,” emphasizing that it adheres to laws and regulations as “a fundamental principle of the group worldwide.” Terry Gou, the founder of Foxconn, formally known as Hon Hai Precision, announced in August that he would run in Taiwan’s presidential elections next year as an independent candidate. He resigned from Foxconn’s board the following month, having stepped down from managing the Taiwanese company four years ago. Gou has long harbored ambitions to become Taiwan’s leader. His first attempt at running for president was in 2019, but he dropped out of the race after failing to win the nomination from the opposition Kuomintang party. Gou sought to secure the party’s support again this year, but the KMT instead selected Hou Yu-ih, a popular mayor of the island’s largest municipality. The Hon Hai Precision Industry Co. headquarters in New Taipei City. Lam Yik Fei/Bloomberg A rags-to-riches entrepreneur, Gou’s fortune is currently estimated at $6.8 billion on Forbes’ Real-Time Billionaires List. But Gou’s success in business is seen as a liability in the political arena due to Foxconn’s dependence on China, making him susceptible to pressure from Beijing. Foxconn is one of the world’s largest contract…
The post Billionaire Terry Gou’s Foxconn Under Investigation, Says China State Media appeared on BitcoinEthereumNews.com.
Terry Gou, founder and former chairman of Foxconn and independent Taiwanese presidential candidate, speaks during a press conference in Taipei on September 14, 2023. Sam Yeh/AFP via Getty Images Chinese authorities have conducted tax inspections on Foxconn in the provinces of Guangdong and Jiangsu, the Global Times reported on Sunday. The Taiwanese manufacturing giant has also been subjected to on-site investigations by natural resources officials looking into its land use in Henan and Hubei provinces, according to the same report, which cites anonymous sources and provides no further details on the probes. Foxconn said Monday that it will “cooperate with the relevant units on the related work and operations,” emphasizing that it adheres to laws and regulations as “a fundamental principle of the group worldwide.” Terry Gou, the founder of Foxconn, formally known as Hon Hai Precision, announced in August that he would run in Taiwan’s presidential elections next year as an independent candidate. He resigned from Foxconn’s board the following month, having stepped down from managing the Taiwanese company four years ago. Gou has long harbored ambitions to become Taiwan’s leader. His first attempt at running for president was in 2019, but he dropped out of the race after failing to win the nomination from the opposition Kuomintang party. Gou sought to secure the party’s support again this year, but the KMT instead selected Hou Yu-ih, a popular mayor of the island’s largest municipality. The Hon Hai Precision Industry Co. headquarters in New Taipei City. Lam Yik Fei/Bloomberg A rags-to-riches entrepreneur, Gou’s fortune is currently estimated at $6.8 billion on Forbes’ Real-Time Billionaires List. But Gou’s success in business is seen as a liability in the political arena due to Foxconn’s dependence on China, making him susceptible to pressure from Beijing. Foxconn is one of the world’s largest contract…
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