China’s Ministry of Commerce (MoC) has released a list of unreliable entities, including US firms Philips-Van-Heusen (PVH) and Illumina, Inc. (NASDAQ: ILMN). These companies were cited for violating normal market trading principles, interrupting normal transactions with Chinese enterprises, taking discriminatory measures against Chinese firms, and seriously damaging the legitimate rights and interests of Chinese enterprises.
Illumina’s Response
One day after the announcement, Illumina issued a statement saying that the company is conducting a detailed assessment of the impact of the matter and is actively seeking solutions. Founded in 1998, Illumina is a leading provider of products, technologies, and services in the field of genetic variation and biological functional analysis. The company is committed to promoting and inspiring the development of genomics.
Illumina’s China Operations
Illumina opened its first manufacturing plant in China in August 2022, with plans to achieve comprehensive localized manufacturing of high-end gene sequencers and consumables within the next five years. Despite forming partnerships with multiple domestic companies in China, the firm was listed due to several interrupted collaborations.-Fineline Info & Tech
