Zhang Rujing refused to pay the fine of 5 million Taiwan authorities consider the seizure of their assets

On October 8th news, Taiwan China said "the Ministry of economic affairs" officials before, because SMIC CEO Zhang Rujing failed to pay NT $5 million fines, the Taiwan authorities will consider the seizure of their property.

According to Reuters, China Taiwan "Ministry of economic affairs Investment Committee" said, because in the mainland "illegal investment", Zhang Rujing was fined NT $5 million ($150 thousand and 600) fine, but not in a 6 month period of time to pay the fine. The Investment Committee Deputy Executive Secretary Emile Chang said: "if Zhang Rujing refused to pay the fine, we will consider the case transferred to the Ministry of justice, in order to seek enforcement, including a seizure of assets."

In this regard, SMIC spokesman did not comment too much, but said Zhang Rujing has commissioned a lawyer to deal with this matter. Because of the Taiwan authorities expressed dissatisfaction with the fine, Zhang Rujing had previously applied to give up Taiwan hukou. But the "Taiwan Ministry of economic affairs" argued that Zhang created in 2000-2002 SMIC was Chinese Taiwan hukou, and therefore should be fined, until the cancellation of all investment in the mainland.

According to local media reports, Zhang Rujing's current assets in Taiwan, including 2 million shares held by tsmc. According to TSMC's closing price on Thursday, the 2 million shares valued at NT $107 million 400 thousand.