Foxconn to Receive Subsidies from Beijing
TAIPEI – Foxconn is among Taiwanese companies that will receive substantial subsidies from Beijing.
Grants provided over several years make up more than half of profits for one Foxconn subsidiary, according to reports.
The grants are creating controversy after Foxconn founder Terry Gou said he intends to run for the presidency, intensifying suspicion over China's influence in Taiwan’s businesses. The government plans to determine if China's funding could be used to influence politics.
According to reports, subsidies and grants to two of Foxconn's subsidiaries operating in the mainland since 2006 amounted to more than $430 million.
Foxconn said its mainland subsidiaries had “legally won industrial development incentive benefits and not violated any laws related to the cross-strait relationship” in Taiwan.
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