Apple Supplier Foxconn, also known as Hon Hai, has stated that it will cooperate with Chinese authorities on investigations into tax audits and land use of its subsidiaries. The investigations, reported by state media Global Times, did not provide further details. Hon Hai Technology Group is the largest contract electronics manufacturer globally and assembles products such as Apple's iPhones. The announcement comes as Foxconn founder Terry Gou is running for Taiwan's presidency, with Beijing claiming Taiwan as part of its territory. Hon Hai's shares fell 3.29% following the news.

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