The logo of Foxconn, the trading name of Hon Hai Precision Industry, is seen on the company's building in Taipei. Photo: Reuters

Taiwanese electronics manufacturer Foxconn Technology Group has denied claims it will leave mainland China or move its factories overseas, according to an article posted on Weibo in the company’s name.

The report, posted by an account user in the company’s labor union, said recent rumors of Foxconn intending to shut down operations on the mainland and move overseas were total nonsense. It said the company had no such plan currently, according to The Paper.

The article said that Foxconn had created deep roots in China with continuous investments and fruitful results for more than three decades. In 2018 alone, the company’s 17 legal entities were selected among China’s top 200 exporters, and 11 subsidiaries and related legal entities were listed as top 200 Chinese importers.

Hongfujin Precision Electronics (Zhengzhou) ranked first on China’s list of exporters over the past five years, and it has been the first and only company on the list to exceed the 200-billion-yuan mark.

With regard to a second rumor that Foxconn would ditch Huawei and other Chinese mobile brands, the company followed its usual practice of not commenting on individual customers or products. However, the article stressed that production at various factories and different Foxconn units on the mainland was being carried out in a normal and orderly manner.

The report said the electronics manufacturing giant had not been playing favors or planning to abandon any customers, but working hard to solve problems for all customers for the past 45 years, and that was a foundation stone of its success.

As for the third rumor that Foxconn was backing the United States in the Sino-US trade war, the article noted that Foxconn is a transnational company that has also invested in the United States for 20 years.

It started an investment project in Wisconsin in April 2017 that was announced in June of that year, but that was a strategic deployment in response to the development of technology and the globalization of technology research and development. It happened prior to the trade dispute, so there was no basis to the claim the group has played favor to the United States.

Lastly, in regard to talk of mass layoffs, the article reiterated that the company has not laid off massive numbers of employees in factories on the mainland. That rumor was old and not true.

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