US Bans Imports From BGI, MGI Tech Over Forced Labor Claims
MT Newswires Live07:33
The U.S. banned imports from three Chinese genomics firms for allegedly taking part in the forced labor of Uyghurs and other ethnic minorities in the Xinjiang Uyghur Autonomous Region.
The U.S. Department of Homeland Security updated its forced labor entity list on Wednesday to include BGI Genomics (SHE:300676), Shenzhen BGI Technology, and MGI Tech (SHA:688114).
Both BGI and MGI denied the allegations in separate statements and said they are working with relevant authorities for appropriate action and their removal from the list.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
