Home News Taiwanese company Far East Group was heavily fined expert: triggering the withdrawal of foreign capital from China | CCP | Xu Xudong | Taiwan Independence

Taiwanese company Far East Group was heavily fined expert: triggering the withdrawal of foreign capital from China | CCP | Xu Xudong | Taiwan Independence

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[Epoch Times November 24, 2021](The Epoch Times reporter Zhong Yuan Taipei reported) Taiwan’s Far East Group China Investment was fined 474 million yuan (approximately US$74.52 million) for environmental protection reasons. Political Factors. Many experts pointed out that it will trigger the withdrawal of foreign capital from China. Some financial experts believe that it will speed up the return of Taiwanese businessmen to invest in Taiwan. The Mainland Affairs Council stated that it will study and discuss necessary countermeasures and preventive measures against this move by the Chinese Communist Party.

Yan Jianfa: The CCP is facing a financial crisis against the Taiwanese Far East Group

The Chinese Communist Party’s official media “The Beijing News” reported on the 24th that relevant departments in five provinces and cities including Shanghai, Jiangsu, Jiangxi, Hubei, and Sichuan have violated the environmental protection and land use laws against the chemical fiber textile and cement enterprises invested by Taiwan Far East Group in the local area. For violations, fines and tax recovery of approximately RMB 474 million have been imposed, and the idle construction land of one of the companies has been recovered.

In an interview on the 23rd, Gao Weibang, chairman of the Taiwan Investment China Association for the Persecuted, pointed out in an interview on the 23rd that Far East Group companies were severely punished for non-compliance with environmental protection and other issues when they set up factories in China. In fact, there is no absolute standard for environmental protection. Close one eye, but environmental protection becomes an excuse when you are looking for trouble. He reminded that the CCP is not a country under the rule of law at all. Taiwanese or foreign investors have high risks in investing in China, and it is impossible to predict what troubles they will encounter.

The spokesperson of the Taiwan Affairs Office of the Communist Party of China, Zhu Fenglian, named Taiwan’s Executive Yuan Su Zhenchang, Legislative Yuan Chairman You Xikun, and Foreign Minister Wu Zhaoxie as a handful of Taiwan independence diehards. Zhu Fenglian responded to an outside inquiry on the 22nd whether there is a connection between the heavy punishment of the Far East and the list of “Taiwan independence diehards”. She responded by saying that “people who support Taiwan independence and disrupt cross-strait relations will never be allowed to make money on the mainland, and eat and smash the pot.” She indirectly admitted. Related to politics.

Yan Jianfa, an expert on China issues and former director of the DPP’s China Affairs Department, said in an interview that the CCP sanctioned the billionaires Jack Ma, Ma Huateng, Wang Jian and others in mainland China, and intervened in the real estate industry in Hong Kong, and then Macau’s gaming industry also became a target, and the whole of China entered A rectification similar to the Cultural Revolution. Now that Taiwan’s Far East Group is being attacked, this actually shows that the CCP’s national treasury is already empty.

Yan Jianfa pointed out that the central government’s finances may be better, but local governments owe a lot of debt, and China’s real estate has a serious bubble problem, but debts still have to be repaid. Therefore, the five provinces and cities of China jointly imposed fines on the Far East Group and the Taiwan Affairs Office of the State Council. On the surface, it is said that the Far East Group supports Taiwan independence, but what is not said behind it is that the CCP needs money.

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Taiwan’s Minister of Economy, Wang Meihua, attended the second Taiwan-US “Economic Prosperity Partnership Dialogue” (EPPD) on the 23rd. After the meeting, she explained that at the press conference that the Far East Group was severely punished by the CCP due to political factors, she believed that Taiwanese companies no matter which country they do business in. Investment, of course, will comply with the relevant regulations of various countries, but there should be no interference with other factors besides complying with the relevant environmental protection, fire protection, and public security regulations. This will affect the investment of Taiwanese enterprises.

The CCP wants Taiwanese businessmen to love their country and be a state: the investment environment in China is getting worse and worse

During the election in Taiwan, Far East Group donated political donations from blue and green politicians. In 2018, it also donated political donations to Su Zhenchang, who was to elect the mayor of New Taipei City at that time. Zhu Fenglian, a spokesperson for the Taiwan Affairs Office of the State Council, said that those who support Taiwan independence are not allowed to make money in mainland China and call on Taiwanese businessmen and enterprises to draw a clear line between Taiwan independence forces. This move is questioned and may be related to the political donations made by Far East to green camp politicians.

Zhao Shaokang, chairman of China Broadcasting Corporation, mentioned at a press conference for the polls on the 23rd that Xu Xudong has donated money to both the blue and green parties, and he does not think he is an entrepreneur who supports Taiwan independence. But now the Taiwan Affairs Office of the State Council will impose fines and Taiwan independence will be linked together, which means that there will be second and third companies that will face sanctions. Many Taiwanese businessmen and business circles have careers on both sides. The future actions of the Communist Party and the Taiwan Affairs Office of the State Council are unpredictable. In the future, enterprises and Taiwanese businessmen can only “see for their own blessings.”

The Taiwan Supervisory Office has a public review platform for political donations, so that politicians can be more scrutinized by the society. The Supervisory Council announced the details of political contributions for the election of legislators, among which “profit-making enterprise donations” refer to funds donated by general enterprises and are also one of the main sources of political contributions for candidates to be elected. The law stipulates that a single company’s donation to the same candidate shall not exceed 1 million yuan (NTD, the same below). Even if it is donated to different people, the total amount is also capped at 2 million yuan.

Taiwanese writer Yan Zeya stated on Facebook that after the general election in Taiwan, the Supervisory Council will announce the details of the income and expenditure of candidates. It is one of the necessary conditions for democracy, which is the transparency of public finances. The Far East Group has been making things difficult in China. The statement of the Taiwan Affairs Office of the State Council of “no food and trouble” proves that the public information on political donations by the Supervisory Yuan has become a political weapon on the CCP’s side to deal with Taiwanese companies.

Yan Jianfa believes that after the Taiwan Affairs Office of the State Council named Dean Su Zhenchang, Dean You Xikun, and Minister Wu Zhaoxie as a very small number of Taiwan independence diehards, the CCP also imposed fines on the Far East Group on the grounds of environmental protection, and also hinted that there are political factors behind it. The top executives are all named, and the purpose is obviously to kill the chickens and the monkeys, but this approach will also have a counterproductive effect, because how does the CCP define Taiwan independence? This will cause Taiwanese business people to risk themselves and reduce or withdraw their investment in China.”

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He pointed out that after the CCP called out “common prosperity”, Taiwanese businessmen in the mainland would have to deal with difficulties in operating through relationships. Seeing that even the chairman of Far East Group Xu Xudong was rectified by the CCP, it would teach many people a lesson. After investing in China The money will not get back. What the Communist Party does is based on its own interests. The Far East Group’s cutting of leeks will cause foreign businessmen to pay attention to this kind of incident. We must be wary of whether they will become the target of the CCP’s harvest of leeks.

Gao Weibang, chairman of the Taiwan Investment China Association for Persecution, said that the CCP can use environmental protection as an excuse to ask Taiwan businessmen. There is no way for businessmen to get justice.

Gao Weibang also interpreted the meaning of the Taiwan Affairs Office of the State Council saying that Taiwanese businessmen are not allowed to make money in China, but that they are “eating and breaking the pot”. They said that Taiwanese businessmen in the mainland will think that investment creates China’s economic benefits, but the CCP does not regard it as a win-win situation. “Eating and smashing the pot” means that they believe that Taiwanese businessmen make money in China because the Communist Party benefits you. If the Taiwanese businessmen are not obedient, the CCP will “smash the pot” and take away the benefits.

He pointed out that the CCP requires Taiwanese businessmen to be loyal, and many Taiwanese businessmen have seen the crisis gradually withdraw their capital. The punishment of the Far East Group this time will cause a chilling effect. Moreover, the CCP is increasingly threatening Taiwanese culture and military, and the international community also supports Taiwan. In fact, cross-strait relations will only be bad or not good. Taiwanese businessmen must see clearly that the overall investment environment in China is getting worse, while the economic prospects of Taiwan, Vietnam, and India are going upwards. Rational Taiwanese businessmen should lower their investment and withdraw from China.

Xie Jinhe: Investing in China needs to bear political risks and being punished by the CCP in the Far East will accelerate the return of Taiwanese businessmen

Xie Jinhe, chairman of Caixin Media, said that the hot news in the past two days was that Far East Group was punished as a green Taiwanese businessman. In Taiwan, no one would think Xu Xudong was green, but in China, it’s not your responsibility. The color is the CCP. To help you decide, this is a political risk that must be borne by investing in China.

“Under this situation, it will accelerate the return of Taiwanese businessmen to invest in Taiwan,” Xie Jinhe believes. “This is a big trend, and Taiwan is also growing because of the return of Taiwanese businessmen’s investment!”

Xie Jinhe mentioned that in the past three years, the return effect of Taiwanese businessmen has continued to show. First of all, the land in the industrial zone has been so hot, the price has soared, and everyone is looking for land. Secondly, Taiwanese businessmen return to Taiwan to expand their manufacturing industries, and Taiwan’s exports are growing strongly. In the past two years, the monthly export volume has risen from 25.07 billion US dollars to 40.14 billion US dollars. In September, the export orders were 62.9 billion US dollars, and in October it was still as high as 59.1 billion US dollars. Vietnam and Taiwan rank first in the world.

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He pointed out that in the past three years, Taiwanese businessmen have invested in Taiwan, with a total of 1,047, with an amount exceeding 1.4 trillion Taiwan dollars, and creating more than 110,000 jobs. In the past, everyone looked down on Taiwan’s economy because companies did not invest in Taiwan and all funds were invested in China, which caused Taiwan’s brain drain and low salaries. After the return of Taiwanese businessmen, investing in themselves is the key to Taiwan’s resurgence.

Xie Jinhe said that next Taiwan will face the challenges of a high economic base period, as well as the hydropower, talent, land and international development issues faced by Taiwan’s increased investment in Taiwan. He believes that “the test of the four referendums is oncoming, and this is another hurdle for Taiwan’s future. The choice of the people of Taiwan to move forward? Or retreat? It is another important moment.”

The Mainland Committee of the Far East was fined: Will discuss countermeasures and precautions according to the situation

The CCP imposed fines on the Far East Group on the grounds of environmental protection, but hinted that there are political factors behind it. The Mainland Affairs Commission expressed its “severe condemnation” on the 23rd, saying that it will consider taking necessary countermeasures and preventive measures in accordance with the development of the Chinese Communist Party’s malicious measures against Taiwan.

The MAC stated that in the past 30 years, Taiwanese businessmen have made important contributions to China’s economic development and social employment. However, the CCP used political reasons to intimidate and threaten Taiwanese businessmen. The disciplinary measures created a chilling effect and interfered with the operation of Taiwanese enterprises and the operation of Taiwan’s democratic system. The government severely condemned them.

The MAC stated that the State Council’s “Welcome Taiwanese and Taiwanese enterprises to invest and develop in the mainland” is intended to attract Taiwan’s capital, technology, and talents for its use and help its development. However, the overall investment environment in mainland China is currently poor, including Intensified regulatory measures, common prosperity policies, national advancement and retreat, and political interference have increased the risks of Taiwanese businessmen’s investment and operation in mainland China. “The government reminds Taiwanese businessmen to recognize the facts and make long-term investment plans.”

The MAC reiterated that Taiwan is a democratic society ruled by law, let alone under the jurisdiction of the other side. The government does not accept the threat of autocratic authority. If the other side ignores cross-strait relations, intends to undermine Taiwan’s democracy and freedom, and creates antagonism, the government will follow the Chinese Communist Party’s malicious measures against Taiwan, etc. As the situation develops, it is necessary to take countermeasures and preventive measures in due course to ensure national security and the rights and interests of the people.

Editor in charge: Ye Ziwei#

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