Bank loans

Update: US slammed for trying to block World Bank loans to Chinese companies for lies about Xinjiang

Aerial photo shows a tractor plowing a cotton field in Shawan City, northwest China’s Xinjiang Uyghur Autonomous Region, April 2, 2022. Spring farming has started in northern Xinjiang. By 2022, local authorities will strive to achieve a mechanization level of 85.7% for all crops in Xinjiang. Photo: Xinhua

A Chinese expert on Tuesday slammed a US attempt to block normal World Bank commercial loans to several Chinese companies based on lies about ‘human rights abuses’ in the northern Xinjiang Uyghur Autonomous Region. -western China, saying the move was just another crackdown on Chinese companies.

The US Congressional Executive Commission on China (CECC) issued a letter to World Bank President David Malpass on Monday expressing concern over his International Finance Corporation (IFC) loans to four Chinese companies allegedly involved in the human rights abuses in Xinjiang.

“We urge the IFC to share any evidence contradicting reports linking these companies to forced labor, land expropriation, discrimination, and environmental and cultural destruction, and to immediately cease investment in companies engaged in operations. in Xinjiang,” the letter said.

Four Chinese companies are named in the letter: Jointown Pharmaceutical Group, Century Sunshine Group Holdings, Chenguang Biotech Group and Camel Group.

A Camel Group representative told the Global Times on Tuesday that the company has business operations in Xinjiang, but was unclear on the US charges at this time.

Camel was found to have a high likelihood of engaging in discriminatory hiring practices, and the IFC relied on Camel’s assurances that it would favor the hiring of ethnic minority residents in Xinjiang, according to the CECC letter.

Chenguang Biotech’s finance department told the Global Times on Monday that it was unaware of the US charges.

Jointown Pharmaceutical and Century Sunshine could not be reached at press time.

“There is no doubt that the United States is looking for another excuse to smear China and suppress Chinese companies,” He Wenping, a senior fellow at the Chinese Academy of Social Sciences, told the Global Times on Tuesday.

“The United States has spared no effort to raise awareness of issues around Xinjiang, and now it has extended its attention to the financial sector by blocking normal commercial loans from an international organization to Chinese companies,” he said. he noted.

The United States, citing concerns about “human rights” or “minority surveillance” in Xinjiang, has imposed sanctions on Chinese companies and thus harmed the region’s industrial and economic development. Such measures have been repeatedly criticized and refuted by Chinese authorities and companies.

So-called ‘forced labour’ and ‘genocide’ in Xinjiang are the lies of the century, Chinese Foreign Ministry spokesman Zhao Lijian said earlier, blasting US abuse of their list entities to suppress Xinjiang based on lies. violation of global trade rules and market economy regulations.

The United States, under the guise of human rights, appears desperate to continue its crackdown on industrial development in Xinjiang, from cotton to the photovoltaic industry and from agriculture to manufacturing, to the detriment of the right. to the development of the people of Xinjiang, Zhao said.

A spokesperson for the International Finance Corporation said in a response sent to the Global Times on Wednesday that it takes allegations of forced labor and mistreatment of vulnerable groups very seriously and does not condone discrimination or under any circumstances. forced labor.

“Our work in China focuses on transitioning to more environmentally sustainable growth and reducing inequalities. It is guided by the fundamental principle of inclusion, with particular attention to protecting people and communities. vulnerable,” he said.

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