U.S. Congress urges Chinese retailer Shein to be tested for slave labor
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A bipartisan group of US Congress members has called on the Securities and Exchange Commission (SEC) to suspend Chinese retailer Shein’s initial public offering (IPO) preparations. Reuters. Congressmen feel it necessary to first make sure that Shein, which sells fashionable clothes around the world, does not use Uyghur forced labor.
Earlier, Reuters learned from several well-informed sources that Shein plans to conduct an IPO in the United States in the second half of this year and raise about $2 billion. that some of the clothes supplied by Shein in the US are made from cotton grown in the Xinjiang Uyghur Autonomous Region. According to the authors of the letter, “the ability to issue and trade securities on our domestic exchanges is a privilege and foreign companies wishing to receive such an opportunity should confirm their commitment to respect for human rights around the world.”
Shein has already commented on the appeal of congressmen. A spokesman for the Chinese company stressed that the company has “zero tolerance” for the use of forced labor and requires its suppliers to adhere to “a strict code of conduct consistent with key provisions of the conventions of the International Labor Organization.”
About the UN report on human rights issues in the Xinjiang Uygur Autonomous Region of China read here.
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