“China is the best place for expanding manufacturing and investment, the country’s premier told the world’s largest contract electronics maker Foxconn less than two weeks after its chief executive Terry Gou went to the White House to discuss increasing investment in the United States,” Jess Macy Yu and Jeanny Kao report for Reuters.
“‘We will continue to expand our development, and optimise the business environment. China has a huge market and lots of talent, it is the best investment place for expanding manufacturing,’ Li Keqiang was reported as saying on the State Council’s official website, which carried pictures of Li’s visit on Tuesday to Foxconn’s sprawling manufacturing facility in Zhengzhou, Henan province,” Yu and Kao report. “The pictures showed Li being escorted by Gou around the facilities. The State Council statement said Li had encouraged Gou to further invest in high-end research and development as well as in supply chain production in China.”
“Li’s visit comes weeks after Gou and other senior Foxconn executives discussed significant investments in the United States at the White House,” Yu and Kao report. “On Wednesday, a person familiar with the matter told Reuters Foxconn plans to begin construction on a U.S. plant in the second half of this year. Foxconn is a major supplier to Apple Inc.”
Read more in the full article here.
MacDailyNews Take: Lots of moving parts here: Trade, China, North Korea, Apple, Sharp, Japan, Westinghouse, Toshiba, nuclear reactors, U.S. manufacturing, Softbank, ARM holdings, Tim Cook, U.S. corporate taxes, tax repatriation, etc., etc., etc.
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