CHINA-US: MERCHANDISE OF GIANT CHINESE SPORTSWEAR COMPANY LI NING DETAINED AT U.S. PORTS BY CUSTOMS

Bloomberg (March 16) reported that Merchandise made by Chinese sportswear giant Li Ning Co. has been detained at U.S. ports, after an investigation indicated the company used North Korean labour in its supply chain. The action against Li Ning Sporting Goods was effective March 14, U.S. Customs and Border Protection said in a statement. U.S. Customs said some Li Ning goods can enter the U.S. if the company “provides clear and convincing evidence that their merchandise was not produced with convict labour, forced labour, or indentured labour under penal sanctions within 30 days of notice of detention.” Otherwise, the merchandise may be subject to seizure and forfeiture, it said. Li Ning shares fell as much as 3.2% in early Hong Kong trading, before erasing the losses and rising 4.2% to HK$53.10 at 9:42 a.m. local time. The stock is down almost 38% this year. 





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