Chinese Tax Authorities Launch Investigations into Foxconn Amid Founder's Bid for Taiwanese Presidency

Chinese tax authorities have launched investigations into Foxconn, the iPhone manufacturer, following founder Terry Gou's bid for Taiwan's presidential election. The investigations include tax audits and inquiries into land use and are believed to be politically motivated. Foxconn has stated it will cooperate with the investigations, resulting in a decline in its shares. This comes amid tensions between China and Taiwan over independence, with China's increasing aggression towards Taiwan. Gou has pledged to bring peace and build trust in his bid for the presidency, blaming the ruling party for escalating tensions.