In a bold move, China has placed two major U.S. companies, PVH Corp. and Illumina, Inc., on its unreliable entity list. 🚫📉
The Chinese Ministry of Commerce announced on Tuesday that these firms have breached standard market trading principles and halted regular trade with Chinese businesses. This action is part of China's effort to uphold its national sovereignty and security. 🇨🇳🔒
According to the ministry, PVH Corp. and Illumina adopted discriminatory measures against Chinese companies, severely impacting their legitimate rights and interests.
The unreliable entity list will enforce relevant measures against these firms based on existing laws and regulations. 📜⚖️
When asked about the decision, a spokesperson from the Chinese Ministry of Commerce emphasized that this list targets only a few foreign entities that disrupt market rules and violate Chinese laws. 🛡️
They reassured that foreign companies operating with integrity and adhering to the law have nothing to worry about.
Despite this, the Chinese government continues to welcome global enterprises to invest and do business in China, striving to maintain a stable, fair, and predictable business environment. 🌐🤝
Reference(s):
cgtn.com
