:max_bytes(150000):strip_icc()/GettyImages-2040083544-16550f109b7e4c9f9a2ee3dd3b49d523.jpg?w=1920&resize=1920,1171&ssl=1 "Calvin Klein Parent PVH, Illumina Put on China’s ‘Unreliable Entity’ List | Global News Avenue")
Calvin Klein Parent PVH, Illumina Put on China’s ‘Unreliable Entity’ List
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Key points
- The Chinese Ministry of Commerce includes PVH and Illumina in its “unreliable entity” list.
- The two companies were accused of taking actions that harmed Chinese companies.
- Companies on unreliable entities may face business restrictions, fines and other fines.
Calin Klein’s parents’ shares (PVH) And biotechnology company Illumina (reveal) When China announced that the two companies were added to its “unreliable entity” list, it fell.
According to the official report of Xinhua News Agency, the Ministry of Commerce has determined that both of them “violate the normal market transaction principles, terminate the conventional trade with Chinese companies, and adopt discrimination measures against Chinese companies, which seriously damages its legitimate rights. “And interest”. The news website does not explain what the two people do.
The Ministry of Commerce explained that the purpose of the unreliable entity list is to “safeguard national sovereignty, security and development interests, maintain fair, free international economic and trade order, protect the legitimate rights and interests of enterprises, other organizations, and other organizations in China. “
People on the list may face fines, including import and export restrictions, fines, and fines that employees enter or leave the country.
InvestOpeDia Consolidated with PVH and Illumina for comments.
Since November 2023, PVH stocks have fallen 1.5 %.
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