In a recent development, China has added two prominent U.S. companies, PVH Corp. and Illumina, Inc., to its unreliable entity list. According to the Chinese Ministry of Commerce, these firms have violated standard market trading principles, ceased regular trade with Chinese companies, and implemented discriminatory measures against them. 📉
The ministry stated that such actions have severely harmed the legitimate rights and interests of Chinese businesses. This strategic decision aims to uphold national sovereignty, security, and development interests in line with relevant laws and regulations. 🛡️
The unreliable entity list mechanism allows China to impose corresponding measures on the listed entities based on existing laws. In a recent statement, a spokesperson from the Ministry emphasized China’s prudent approach in managing the list, ensuring it targets only those foreign entities that disrupt market rules and violate Chinese laws. 🏛️
Despite this move, the spokesperson reassured that foreign enterprises operating with integrity and compliance have nothing to worry about. 🌏 The Chinese government continues to welcome global businesses to invest and operate in China, committing to a stable, fair, and predictable business environment for those adhering to laws and regulations.
Reference(s):
cgtn.com
