New wave of investigations from China

The investigations by Chinese authorities, which have led to a series of arrests, have created a new cold shower effect on foreign capital. Chinese state media reported that tax inspections were carried out on Apple supplier Foxconn and an investigation was carried out into its land use. Chinese state media reported that tax inspections were carried out on Foxconn and an investigation was carried out into its land use. Taiwan-based Foxconn, which has a key position in the iPhone supply chain, announced that it was cooperating with the authorities. Foxconn shares fell the most in more than three months, while its Shanghai-listed subsidiary Foxconn Industrial Internet Company fell 10% to bottom. In another investigation, it was reported that an executive and two employees of WPP, one of the world’s largest advertising companies, were detained. The Nikkei newspaper reported on Sunday that an employee of a Japanese precious metals trading company was detained in China. China, which has previously arrested foreign executives, usually does not publicize the reasons for the investigation for a long time.