China fires political warning at Taiwanese companies

Taiwan’s Far Eastern Group’s mainland units have been punitively fined for violating business rules over the conglomerate’s alleged donations to politicians who have called for Taiwan’s independence, according to Chinese state media reports.

The conglomerate, comprised of nine listed companies with interests spanning construction materials, retail, hotels, energy and the Internet in China, Malaysia, Singapore, Thailand and Vietnam, is accused by Beijing of sponsoring the election campaigns of Su Tseng-chang, the incumbent president of the Executive Yuan in Taiwan, and his daughter.

Su, together with the self-governing island’s Foreign Minister Joseph Wu and Legislative Yuan President You Si-kun, were put on a list of “Taiwan secessionists” by the Taiwan Affairs Office of China’s State Council on November 5.

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