China has added two U.S. companies, PVH Corp. and Illumina, Inc., to its unreliable entity list, the Chinese Ministry of Commerce announced on Tuesday. The decision comes amid allegations that these firms violated market trading principles and implemented discriminatory measures against Chinese enterprises.
According to the Ministry's statement, PVH Corp. and Illumina, Inc. terminated regular trade with Chinese companies, causing significant harm to their legitimate rights and interests. The move to include them on the unreliable entity list aims to safeguard national sovereignty, security, and development interests in accordance with relevant laws and regulations.
The unreliable entity list mechanism allows China to take appropriate measures against foreign entities that disrupt market rules and violate Chinese laws. The Ministry emphasized that the actions are targeted only at a few foreign entities and are not directed against any specific country or entity.
In response to media inquiries, a spokesperson for the Ministry of Commerce reassured that foreign entities operating with integrity and in compliance with Chinese laws have no reason for concern. The spokesperson highlighted China's commitment to creating a stable, fair, and predictable business environment for global enterprises.
\"The Chinese government welcomes enterprises from around the world to invest and conduct business in China,\" the spokesperson stated. \"We remain dedicated to providing a conducive environment for foreign companies that adhere to laws and regulations.\"
This development underscores the complexities of international trade relations and the importance of adherence to market principles. As China continues to assert its economic policies, global businesses are encouraged to engage constructively and uphold fair trade practices.
Reference(s):
cgtn.com
