🚨 In a significant move, China has added two major U.S. companies, PVH Corp. and Illumina, to its unreliable entity list. This decision comes from the Chinese Ministry of Commerce and is aimed at maintaining national sovereignty, security, and development interests.
The Ministry stated that both PVH Corp. and Illumina violated normal market trading principles by terminating regular trade with Chinese companies and adopting discriminatory measures. These actions have severely harmed the legitimate rights and interests of Chinese businesses.
\"The unreliable entity list mechanism will take corresponding measures against the aforementioned entities based on relevant laws and regulations,\" the Ministry added.
Responding to media inquiries, a spokesperson from the Ministry emphasized that China handles such matters prudently, targeting only a few foreign entities that disrupt market rules and violate Chinese laws. They reassured that foreign entities operating with integrity and in compliance with the law have no reason for concern.
China continues to welcome enterprises from around the world to invest and conduct business within its borders, committing to providing a stable, fair, and predictable business environment for those who adhere to its laws and regulations.
Reference(s):
cgtn.com
