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Chinese companies distance themselves from Taiwan after Pelosi trip fallout
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From a Chinese soy sauce maker to an Asia-focused asset manager, companies in China are rushing to distance themselves from geopolitical tensions over Taiwan following last week's visit to the island by a high-profile U.S. official.
China claims self-ruled Taiwan as its territory, and the visit by U.S. House of Representatives Speaker Nancy Pelosi to Taipei last week – in defiance of Beijing's warnings – has sparked a wave of Chinese nationalism and huge military drills.
Chinese social media users have targeted companies and celebrities they see as unpatriotic or supportive of Taiwan's independence with strong criticism – such as candy brand Snickers, whose owner apologized last week for a product launch that was seen as suggesting Taiwan is a country.
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On Saturday, Foshan Haitian Flavoring and Food Co Ltd, China's largest soy sauce maker by sales, issued a lengthy apology, saying it had fired an unidentified employee who attracted social media attention with a private post that celebrated Pelosi's visit.