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[Why would Adidas invest in the IPO of this sustainable fiber innovation company?]
Release date:[2021/6/15] Is reading[74]次

Why would Adidas invest in the IPO of this sustainable fiber innovation company?

On Tuesday, the Indian Olympic Association (IOA) announced that it had cancelled the Chinese sportswear manufacturer Li Ning Company’s qualification as an official clothing sponsor when the Tokyo Olympics was more than a month away, citing "the sentiments of the Indian people."

Li Ning

A week ago, due to tensions between India and China, the new equipment announced by the organization was quickly criticized.

In June last year, a border conflict in the Himalayas that killed 20 Indian soldiers triggered calls in India to boycott Chinese companies and products. In addition to the official ceremonial clothing sponsored by the local Indian brand Raymond, Indian athletes, coaches and logisticians will now participate in the Olympic Games without wearing branded clothing.

The Indian Olympic Committee said in a statement: "We have taken into account the emotions of the fans and decided to terminate the existing contract with the clothing sponsor." Li Ning said that before deciding to terminate the contract with Li Ning, it solicited sports. Ministry’s opinion. The contract starts from the 2016 Rio de Janeiro Olympics and ends at the Tokyo Olympics.

The Indian Olympic Committee said: "We are grateful to the Ministry of Youth Affairs and Sports for its guidance on this decision." "We hope that our athletes will not need to answer questions about clothing brands during training and competitions.

        In fact, they have all been challenged by the pandemic in the past year and a half, and we don’t want them to be distracted. "Li Ning did not immediately respond to the reporter’s request for comment. At the daily press conference in Beijing, Foreign Ministry spokesperson Wang Wenbin said that he hoped that the Indian side would treat the normal cooperation between the two countries in an objective and fair manner, instead of addressing this issue. Politicization.

But India is not the only country that has alienated China.

US lawmakers recently urged members of the National Basketball Players Association (NBPA) to abandon endorsement agreements with Chinese sportswear brands.

In a letter to the organization earlier this month, Oregon Democratic Senator Jeff Merkley and Massachusetts Democrat James McGovern said that despite ANTA Sports (Anta Sports), Li Ning (Li Ning) and Peak (Peak) and other brands claim to fully support XJ Cotton, but there are still more than a dozen basketball players maintaining or signing new agreements with them.

"We believe that the commercial relationship with the new XJ Cotton Purchasing Company creates reputational risks for NBA players and the NBA itself," they wrote.

"The U.S. State Department has determined that the Chinese government committed genocide and crimes against humanity in XJ, including the mass detention of more than 1 million people of mainly Muslim minorities, and systematically forcing labor to produce products for global export. NBA and NBA players even This kind of terrible human rights violation should not be implicitly supported."

On Sunday, Finnish clothing manufacturer Reima said it would cut ties with a Chinese contractor after local news outlet Yle reported that the company was involved in forced Uighur labor in Xinjiang.

Finland’s Yle claims that the Haoyuanpeng Group, which runs a factory in Xinjiang, is the beneficiary of several state-funded programs that researchers say are characteristic of modern slavery.

On Tuesday, the U.S. Senate passed a bill by an overwhelming majority that will allocate $250 billion for scientific research and development over the next five years. The United States has further strengthened its restrictions on China.

The U.S. Innovation and Competition Act was passed by a vote of 68 to 32. It will allocate US$52 billion as emergency funding for the semiconductor industry and authorize the National Science Foundation to allocate US$81 billion.

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