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Politics

China jolts Taiwan Inc. with $74m fine on Tsai corporate backer

Far Eastern Group chairman denies supporting island's independence

Taiwan President Tsai Ing-wen celebrates her relection at a rally in Taipei in January 2020. Far Eastern Group donated mostly to Tsai's Democratic Progressive Party during the campaign.   © Reuters

TAIPEI -- The hefty financial penalties China imposed on a Taiwanese conglomerate that has donated to President Tsai Ing-wen's political party caught the island's business community by surprise as cross-strait tensions spill over to the economic realm.

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