Foxconn Technology Group, the world's largest electronics manufacturing contractor, on Thursday night denied online rumors claiming it needs to pay 180 billion yuan ($24.6 billion) in tax, and that the land - which is equivalent to 20,000 football fields - it uses will be taken back by Chinese mainland government due to recent investigations.
The company said in a statement on its official Sina Weibo account that some "We media" — personal social media accounts and other media platforms run by individuals — spread rumors and fabricated facts arbitrarily, and the false content has seriously hurt its reputation and has a huge negative impact.
Foxconn said it has always adhered to legal and compliant operations and, currently, its production and operations remain normal.
On Oct 22, Global Times reported that Chinese mainland tax authorities are conducting tax inspections on key enterprises of Foxconn in Guangdong and Jiangsu provinces, and natural resources regulatory departments are carrying out on-site investigations into the company's land use in Henan and Hubei provinces.
Foxconn, formally known as Hon Hai Precision Industry Co, is a key supplier of Apple. It has major production bases in Shenzhen, Guangdong province and Zhengzhou, Henan province.
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