Home News Calvin Klein Parent PVH, Illumina Put on China’s ‘Unreliable Entity’ List

Calvin Klein Parent PVH, Illumina Put on China’s ‘Unreliable Entity’ List

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Key Takeaways

  • China’s Ministry of Commerce has put PVH and Illumina on its “unreliable entity” list.
  • The two firms are accused of taking actions that harmed Chinese companies.
  • Companies on the unreliable entity list could face business restrictions, fines, and other penalties.

Shares of Calvin Klein parent PVH (PVH) and biotech firm Illumina (ILMN) fell when China announced that the companies were being added to its “unreliable entity” list. 

The official Xinhua News Agency reported that the Ministry of Commerce has determined that both “have violated normal market trading principles, terminated regular trade with Chinese companies, and adopted discriminatory measures against Chinese companies, thus severely harming their legitimate rights and interests.” The news site didn’t give an explanation of what those two did to be singled out.

The Ministry of Commerce explained that the purpose of the unreliable entity list is for “safeguarding national sovereignty, security and development interests, maintaining fair and free international economic and trade order, protecting the legitimate rights and interests of enterprises, other organizations, and individuals of China.”

Those on the list could face penalties including import and export restrictions, fines, and the blocking of their employees from entering or exiting the country.

Investopedia has reached out to PVH and Illumina for comment.

PVH shares, which slipped 1.5% Tuesday morning, are at their lowest level since November 2023. Shares of Illumina sank 5.5% and are down 12% over the last year.

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