China Probes Taiwan Staff at iPhone City for Alleged Bribery

Bloomberg10-11

(Bloomberg) -- Chinese authorities are investigating four Taiwanese employees at Hon Hai Precision Industry Co., Apple Inc.’s main assembly partner, for suspected criminal activities including bribery...

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Zhengzhou is where Hon Hai, the flagship company of Foxconn Technology Group, operates the world’s largest iPhone assembly plant. Local media in Taiwan reported that the four Hon Hai employees were detained earlier this year.“The suspects are being investigated by the relevant authorities over suspected criminal acts including bribery and misappropriation of funds,” Zhu Fenglian, a spokesperson for China’s Taiwan Affairs Office, said late Friday. She added that authorities are still investigating and will strictly handle the case in accordance with the law and protect the parties’ legal rights.","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"IE00B1XK9C88.USD":"PINEBRIDGE US LARGE CAP RESEARCH ENHANCED \"A\" (USD) ACC","IE00BJLML261.HKD":"HSBC GLOBAL EQUITY INDEX \"HCH\" (HKD) ACC","IE00BKDWB100.SGD":"PINEBRIDGE US LARGE CAP RESEARCH ENHANCED \"A5H\" (SGDHDG) ACC","IE00BBT3K403.USD":"LEGG MASON CLEARBRIDGE TACTICAL DIVIDEND INCOME \"A(USD) ACC","BK4512":"苹果概念","IE00BSNM7G36.USD":"NEUBERGER BERMAN SYSTEMATIC GLOBAL SUSTAINABLE VALUE \"A\" (USD) ACC","HK0000306701.USD":"TAIKANG KAITAI CHINA NEW OPPORTUNITIES FUND \"A\" (USD) INC","IE00B775H168.HKD":"JANUS HENDERSON BALANCED \"A5M\" (HKD) INC","IE0005OL40V9.USD":"JANUS HENDERSON BALANCED \"A6M\" (USD) INC","IE000W1ABFV2.USD":"PIMCO BALANCED INCOME AND GROWTH \"R\" (USD) INC","IE00BZ1G4Q59.USD":"LEGG MASON CLEARBRIDGE US EQUITY SUSTAINABILITY LEADER \"A\"(USD) INC (A)","IE00BK4W5L77.USD":"HSBC GLOBAL FUNDS ICAV US EQUITY INDEX \"HC\" (USD) ACC","IE00BWXC8680.SGD":"PINEBRIDGE US LARGE CAP RESEARCH ENHANCED \"A5\" (SGD) ACC","IE00BK4W5M84.HKD":"HSBC GLOBAL FUNDS ICAV US EQUITY INDEX \"HC\" (HKD) ACC","IE0009G5SDU7.USD":"PIMCO BALANCED INCOME AND GROWTH \"M\" (USD) INC","BK4554":"元宇宙及AR概念","BK4532":"文艺复兴科技持仓","IE0003U64NQ7.SGD":"PIMCO BALANCED INCOME AND GROWTH \"M\" (SGDHDG) ACC","BK4515":"5G概念","IE00B1BXHZ80.USD":"Legg Mason ClearBridge - US Appreciation A Acc USD","BK4553":"喜马拉雅资本持仓","IE000KEQY171.SGD":"PIMCO BALANCED INCOME AND GROWTH \"M\" (SGDHDG) INC","BK4534":"瑞士信贷持仓","HNHAF":"Hon Hai Precision Industry Co. 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Zhengzhou is where Hon Hai, the flagship company of Foxconn Technology Group, operates the world’s largest iPhone assembly plant. Local media in Taiwan reported that the four Hon Hai employees were detained earlier this year. \n“The suspects are being investigated by the relevant authorities over suspected criminal acts including bribery and misappropriation of funds,” Zhu Fenglian, a spokesperson for China’s Taiwan Affairs Office, said late Friday. She added that authorities are still investigating and will strictly handle the case in accordance with the law and protect the parties’ legal rights.  \nA Foxconn representative didn’t have any immediate comment on the TAO’s statement outside of regular office hours. \nFoxconn’s iPhone plant in Zhengzhou — called “iPhone City” because it cranks out the majority of Apple’s marquee devices — is considered one of the country’s signature manufacturing projects. It employs hundreds of thousands of workers and delivers a major boost to the economy of the land-locked province of Henan. \nThe latest detentions came after Chinese regulators last year conducted tax audits and reviewed land use by Foxconn when company founder Terry Gou was bidding to become the leader of democratic, self-ruling Taiwan, which China sees part of its territory. Chinese tax authorities handed out a 20,000 yuan ($2,800) fine to a Foxconn subsidiary for overstating expenses. It is still unclear whether Chinese regulators have completed their probe into Foxconn. \n©2024 Bloomberg L.P.","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"-1","news_tag":"Policy And Regulatory","news_rank":0,"symbols":[],"gpt_button":0},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.1","shortVersion":"4.29.1","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2474043668"}