Home>News Center>China
       
 

Taiwan CEO aims to renounce island links
By Dai Yan (China Daily)
Updated: 2005-08-26 05:59

SHANGHAI: The founder and CEO of Shanghai-based Semiconductor Manufacturing International Corp (SMIC) has applied to give up his "citizenship" of Taiwan after doing business in the Chinese mainland left him facing sanctions from the island's authorities.

Richard Chang
The Economic Daily News reported that Richard Chang applied to renounce his "citizenship" last month at Taiwan's "Ministry of Foreign Affairs" (MOFA).

While not addressing the matter directly, Chang said in a statement yesterday: "Some Taiwanese authorities have been restricting and persecuting us for our development on the mainland, and I feel quite a bit of disappointment about that.

"I am a US citizen but grew up in Taiwan. I was educated and served in the army in Taiwan, for which I have a deep affection."

"MOFA" said in March that Chang illegally invested in SMIC in 2000, a move forbidden by Taiwanese authorities. He was fined NT$5 million (US$150,000) and was required to withdraw his investment in SMIC.

The "MOFA" has given Chang six months to withdraw his investment. If Chang does not end his investment, "MOFA" says it will continue to punish him until he does. Chang is fighting the case.

"Taiwan is trying to fine our CEO NT$5 million (US$150,000) for alleged improper investment in SMIC," Jimmy Lai, SMIC spokesman, was quoted as saying by the IDG News Service in response to questions about why Chang is seeking to give up his link to the island.
Page: 12



China-Russia joint military drill ends
Leaflets cover floor at a Nanjing medical expo
Chimpanzee suffers from smoking addiction
  Today's Top News     Top China News
 

Taiwan CEO aims to renounce island links

 

   
 

Peace Mission' 05 ends in blaze of glory

 

   
 

No agreement with EU at textile talks

 

   
 

Citibank seeks 19.9% of Shanghai lender

 

   
 

Xinjiang cracks down on terrorist threat

 

   
 

Opinion: House pre-sale ban reconsidered

 

   
  Citibank seeks 19.9% of Shanghai lender
   
  Thailand aims to lure Chinese investment
   
  Opinion: House pre-sale ban reconsidered
   
  Government urged to tackle safety problems
   
  Planner: Grain areas up; fixed assets slow
   
  Taiwan CEO aims to renounce island links
   
 
  Go to Another Section  
 
 
  Story Tools  
   
  News Talk  
  It is time to prepare for Beijing - 2008  
Advertisement