- People familiar with the matter have previously told Reuters that Foxconn did not seek approval from the Taiwan government before the investment was made and authorities believe it violated a law governing self-ruled Taiwan's relations with China, which claims the island as its own.Taiwan's government said on Saturday it would fine Foxconn, the world's largest contract electronics maker, for an unauthorized investment in a Chinese chip maker even after the Taiwanese firm said it would be selling the stake.Taiwan's Economy Ministry said in response that its investment commission, which has to approve all foreign investments, will ask Foxconn on Monday for a "complete explanation" about the investment.People familiar with the matter have previously told Reuters that Foxconn did not seek approval from the Taiwan government before the investment was made and authorities believe it violated a law governing self-ruled Taiwan's relations with China, which claims the island as its own."In order to avoid uncertainties from further delays or impact to investment planning and the flexible deployment of capital, the Xingwei Fund will transfer its entire holding in Shengyue Guangzhou to Yantai Haixiu," it said."