Capital Economy, Business and Finance
China has launched an investigation into Foxconn, the Taiwan-based firm that manufactures most of Apple’s iPhones, over tax and land use. The state-run Global Times reported that officials had conducted tax inspections at two Foxconn sites in Guangdong and Jiangsu provinces, while natural resources officials visited sites in Henan and Hubei. Foxconn said it would fully cooperate with any investigation. Of note: Terry Gou, the company’s founder, is running as an independent candidate in Taiwan’s presidential election in January. Chinese state media said Gou’s candidacy might split the opposition vote, potentially leading to a victory for Lai Ching-te, Taiwan’s vice president and an outspoken critic of Beijing. China did not immediately comment on the investigation.