Taiwan weighs fining Foxconn over China chip investment - source

TAIPEI : Taiwan's government is considering fining tech giant Foxconn up to T$25 million over its investment in a Chinese chip conglomerate without first getting regulatory approval, a source briefed on the matter told Reuters on Friday.

Foxconn did not seek prior approval from the Taiwan government before the investment was made and authorities believe that has violated a law governing the island's relations with China, a person familiar with the matter told Reuters. Taiwanese law states that the government can prohibit investment in China"based on the consideration of national security and industry development." Those violating the law could be fined repeatedly until corrections are made.

Malaysia Malaysia Latest News, Malaysia Malaysia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Taiwan says Foxconn needs govt approval for any China chip firm investmentTAIPEI : Taiwan's Foxconn, the world's largest contract electronics maker, would need Taiwanese government permission if its unit were to invest in embattled Chinese chip conglomerate Tsinghua Unigroup, a government official said on Thursday.Taiwan media has reported that Foxconn's China-listed unit Foxco
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »

Taiwan says Foxconn needs govt approval for any China chip firm investmentTAIPEI : Taiwan's Foxconn, the world's largest contract electronics maker, would need Taiwanese government permission if its unit were to invest in embattled Chinese chip conglomerate Tsinghua Unigroup, a government official said on Thursday.Taiwan media has reported that Foxconn's China-listed unit Foxco
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »