Taiwan’s authorities confirm a senior executive from Formosa Plastics is banned from leaving China, raising concerns about risks for businesses amid rising tensions between Beijing and Taipei.
Taiwan’s concerns about traveling and doing business in China have intensified following the confirmation of an exit ban on a senior executive from Formosa Plastics Group. This incident coincides with rising tensions between Beijing and Taipei, as reports indicate that several foreigners have also been prevented from leaving China. The Taiwanese Mainland Affairs Council clarified that the executive’s ban is likely linked to a criminal offense, not a political issue.
Formosa Plastics stated they are gathering more information, assuring that the executive is safe and cooperating with authorities. Analysts note this case mirrors previous instances where Beijing exerted political pressure on businesses, highlighting a pattern of intimidation that may deter Taiwanese firms from operating in China. Experts predict that this will exacerbate the trend of Taiwanese companies reducing their presence on the mainland.
Moreover, additional recent cases, including the disappearance of a Taiwanese citizen in Shanghai and severe sentences for pro-independence activists, are causing Taiwanese citizens to reconsider travel to China. As Beijing enforces strict measures, experts believe these developments will create a chilling effect within Taiwan’s business community, prompting a further exodus of companies seeking to protect their interests.
Source : Exit ban for Taiwanese executive reminder of risks of traveling, doing business in China
