Seven & i Holdings Co’s China-based convenience store business was fined for identifying Taiwan as an independent country on its Web site, the latest crackdown by China against companies over its stance on disputed territories.
Seven & i operates the 7-Eleven chain of convenience stores.
Fines of about 150,000 yuan (US$23,530) were imposed by the Beijing local authority against Seven & i, a spokesman for the Japanese retailer said, confirming an earlier report in the Nikkei newspaper.
Photo: Bloomberg
Enterprises operating in China — from Gap Inc and Daimler AG, to airlines including United Continental Holdings Inc and ANA Holdings Inc — have apologized or changed their Web sites after depicting Taiwan as a separate state. The companies usually comply, accepting it as part of the cost of doing business in China.
Seven & i “is taking the issue seriously and making sure to prevent a recurrence,” the company’s spokesman said.
Beijing’s municipal authorities last month issued the fine and a warning, a government-linked credit information Web site showed. Seven & i also failed to use Chinese names for some South China Sea islands as well as for the disputed Diaoyu Islands (釣魚島), known as the Senkaku Islands in Japan, and which are also claimed by Taiwan.
The map contained alleged errors in labeling some borders along the Xinjiang Uyghur Autonomous Region and Tibet Autonomous Region, the online report said.
While Hong Kong and Macau are special administrative regions with greater autonomy, Beijing also objects to references indicating that they are independent.
Nvidia Corp’s demand for advanced packaging from Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) remains strong though the kind of technology it needs is changing, Nvidia CEO Jensen Huang (黃仁勳) said yesterday, after he was asked whether the company was cutting orders. Nvidia’s most advanced artificial intelligence (AI) chip, Blackwell, consists of multiple chips glued together using a complex chip-on-wafer-on-substrate (CoWoS) advanced packaging technology offered by TSMC, Nvidia’s main contract chipmaker. “As we move into Blackwell, we will use largely CoWoS-L. Of course, we’re still manufacturing Hopper, and Hopper will use CowoS-S. We will also transition the CoWoS-S capacity to CoWos-L,” Huang said
Nvidia Corp CEO Jensen Huang (黃仁勳) is expected to miss the inauguration of US president-elect Donald Trump on Monday, bucking a trend among high-profile US technology leaders. Huang is visiting East Asia this week, as he typically does around the time of the Lunar New Year, a person familiar with the situation said. He has never previously attended a US presidential inauguration, said the person, who asked not to be identified, because the plans have not been announced. That makes Nvidia an exception among the most valuable technology companies, most of which are sending cofounders or CEOs to the event. That includes
INDUSTRY LEADER: TSMC aims to continue outperforming the industry’s growth and makes 2025 another strong growth year, chairman and CEO C.C. Wei says Taiwan Semiconductor Manufacturing Co (TSMC, 台積電), a major chip supplier to Nvidia Corp and Apple Inc, yesterday said it aims to grow revenue by about 25 percent this year, driven by robust demand for artificial intelligence (AI) chips. That means TSMC would continue to outpace the foundry industry’s 10 percent annual growth this year based on the chipmaker’s estimate. The chipmaker expects revenue from AI-related chips to double this year, extending a three-fold increase last year. The growth would quicken over the next five years at a compound annual growth rate of 45 percent, fueled by strong demand for the high-performance computing
TARIFF TRADE-OFF: Machinery exports to China dropped after Beijing ended its tariff reductions in June, while potential new tariffs fueled ‘front-loaded’ orders to the US The nation’s machinery exports to the US amounted to US$7.19 billion last year, surpassing the US$6.86 billion to China to become the largest export destination for the local machinery industry, the Taiwan Association of Machinery Industry (TAMI, 台灣機械公會) said in a report on Jan. 10. It came as some manufacturers brought forward or “front-loaded” US-bound shipments as required by customers ahead of potential tariffs imposed by the new US administration, the association said. During his campaign, US president-elect Donald Trump threatened tariffs of as high as 60 percent on Chinese goods and 10 percent to 20 percent on imports from other countries.