On February 4, the Ministry of Commerce issued the "Announcement of the Working Mechanism of the Unreliable Entity List on Adding PVH Group and Illumina, Inc. to the Unreliable Entity List."In order to safeguard national sovereignty, security, and development interests, and in accordance with relevant laws such as the "Foreign Trade Law of the People's Republic of China," the "National Security Law of the People's Republic of China," and the "Anti-Foreign Sanctions Law of the People's Republic of China," and based on the relevant provisions of the "Unreliable Entity List Regulations," the working mechanism of the Unreliable Entity List has decided to include PVH Group (USA) and Illumina, Inc. (USA) in the Unreliable Entity List.Among them, Illumina, Inc. is a global leading company in gene sequencing and chip technology, focusing on genomics research and clinical applications.The two entities mentioned above have violated normal market trading principles, disrupted normal trading with Chinese companies, and implemented discriminatory measures against Chinese enterprises, seriously harming the lawful rights and interests of Chinese companies. The工作机制 of the Unreliable Entity List will take corresponding actions against these entities based on relevant laws and regulations.After a foreign company is included in the Unreliable Entity List by China's Ministry of Commerce, it will be subject to the following restrictive measures:
Prohibition on Engaging in Import and Export Activities Related to China: The foreign company is unable to engage in import and export activities related to China, which directly severs its trade relations with the Chinese market.Prohibition on New Investments Within China: The company is unable to conduct new investment activities in China, limiting its further expansion in the Chinese market.Ban on Entry for Senior Corporate Executives: The company's senior management is prohibited from entering China, affecting the company's business operations and management in China.Not approving and canceling the work permit, stay or residence qualification of senior executives of enterprises within China: Not only will new work permits not be approved, but existing permits will also be revoked, further restricting the activities of company executives in China.These measures aim to safeguard China's national sovereignty, security, and development interests, targeting foreign companies that violate normal market transaction principles, disrupt regular transactions with Chinese enterprises, adopt discriminatory measures against Chinese companies, and severely harm the legitimate rights and interests of Chinese businesses.Pharmaceutical ResearchReportShare CampCollect and Share Mainstream Pharmaceutical Research Reports Across the Market
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