China has announced the addition of two U.S. firms, PVH Corp. and Illumina, Inc., to its unreliable entity list, as disclosed by the Ministry of Commerce on Tuesday. The decision marks a significant move in China's efforts to safeguard its national interests amid ongoing global trade tensions.
According to a statement released by the Ministry, the two companies have violated normal market trading principles by terminating regular trade with Chinese enterprises and adopting discriminatory measures against them. These actions have severely harmed the legitimate rights and interests of Chinese companies.
"The decision was made to maintain national sovereignty, security, and development interests in accordance with relevant laws and regulations," the statement emphasized. The unreliable entity list mechanism allows China to take corresponding measures against entities that disrupt market rules and violate Chinese laws.
In response to inquiries, a spokesperson for the Ministry of Commerce underscored China's prudent approach in handling matters related to the unreliable entity list. "The list targets only a few foreign entities that disrupt market rules and violate Chinese laws," the spokesperson explained, reassuring that foreign entities operating with integrity and in compliance with the law have no reason for concern.
The spokesperson further highlighted China's commitment to fostering a welcoming business environment. "The Chinese government, as always, welcomes enterprises from around the world to invest and conduct business in China. We remain committed to providing a stable, fair, and predictable business environment for foreign companies that adhere to laws and regulations," the spokesperson added.
This development signals China's resolve to protect its economic interests and maintain fair trade practices. It also serves as a reminder to international businesses of the importance of adhering to local laws and regulations when operating in China.
Reference(s):
cgtn.com
