Exclusive: Labour Leader Calls for Ban on Imports from Xinjiang Region to Protect UK Investors
In a groundbreaking move, Labour party leader Liam Byrne is pushing for a ban on imports from China's Xinjiang region to protect UK investors from potential risks associated with forced labor. Byrne, who heads the influential Business and Trade Committee, is also urging increased scrutiny of fashion retailer Shein's possible London listing.
Byrne's call comes in the wake of the Uyghur Forced Labor Prevention Act introduced by the United States in 2021. He is urging the new Labour government to follow through on promises to strengthen the modern slavery act and enhance supply chain reporting requirements.
The move is aimed at safeguarding Britain's leadership in trusted trade practices that are free and fair. Byrne and other senior UK lawmakers have raised concerns about Shein's labor practices, prompting calls for the company's executives to testify before the committee.
Despite Shein's claims of a zero-tolerance policy for forced labor, opposition to its London listing is mounting. Campaigns led by retail consultant Mary Portas and human rights groups are pushing for the government to block the potential IPO.
In a statement, Shein reiterated its commitment to human rights and compliance with laws, stating that it verifies the sourcing of materials independently. However, concerns about labor practices in its supply chain continue to draw scrutiny.
The implications of a ban on imports from Xinjiang and scrutiny of companies like Shein could have far-reaching effects on UK investors and consumers. By taking a stand against forced labor and ensuring transparency in supply chains, the government is sending a powerful message about ethical business practices and investor protection. Investors should stay informed and vigilant about these developments to make informed decisions about their portfolios and support companies that uphold human rights standards.