China fines Taiwan-based company as cross-strait tensions escalate

Politics Economy Society

China has fined Taiwan's Far Eastern Group operating in the mainland for violations of business regulations, the government said Wednesday, in a move that would further escalate cross-strait tensions. The Communist-led government said it has imposed a fine of 474 million yuan ($74 million) and a back tax on Far Eastern, which runs businesses ranging from hotels to petrochemicals, criticizing the firm for providing financial support for Taiwan independence forces. Taiwan's independence-leaning President Tsai Ing-wen immediately lambasted the mainland's decision on Wednesday, saying it would ser...

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