FENC Is Suspected to Be the Victim of the Chinese Communist Party’s Persecution of Taiwan Enterprises

Translated by: MOS Media Team — CloudSky

On November 22, Taiwan’s well-known enterprise Far Eastern New Century Corporation (FENC) was subjected to administrative punishment by five CCP’s provinces and cities including Shanghai, Jiangsu and Sichuan, with a fine of up to 36.5 million yuan.

According to the Taiwan Affairs Office of the State Council of the CCP, the textile, chemical fiber, cement and other industrial projects invested by FENC in the above-mentioned five provinces and cities have “violations” in terms of environmental protection, fire protection, taxation and employee treatment. In addition to the above fines, taxes and fines will also be collected, and some idle construction land of companies will be recovered as well.

FENC stated that it has carried out special rectifications on the above-mentioned “non-compliance” behaviors, which is expected to be completed by the end of the year. And it promised that “the fines will not affect finance and business, nor will it affect investment confidence in the Mainland”. Bofeng Lin, chairman of the Chinese National Association of Industry and  commerce, Taiwan (CNAIC), also made a “land washing” speech, saying that this matter should be a case only and will not affect the willingness of Taiwan businessmen to invest in the mainland.

Interestingly, on the same day, a spokesman of the Taiwan Affairs Office of the State Council said that “Taiwan independence” elements had seriously undermined cross-strait peace and stability, and their financiers and affiliated enterprises must be punished according to law. It is reported that the FENC has funded the election campaign of Zhenchang Su, the current president of the executive yuan of the Republic of China. Some analysts pointed out that the FENC is suspected to be a victim of the persecution of Taiwan enterprises in mainland by the CCP. This will add new variables to the situation across the Taiwan Strait.



Posted by: Malaca

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