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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.
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| 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.
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