Chinese major carmaker listed as war sponsor in Ukraine
Ukraine’s anti-graft body has added the Chinese automotive company Great Wall Motor to its list of international war sponsors, it said on Tuesday.
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The Chinese carmaker refuses to leave the Russian market and intends to expand its business in Russia, Ukraine’s national agency for the prevention of corruption (NAZK) explained.
Owned by Chinese billionaire Wei Jianjun, Great Wall Motor is the eighth largest car manufacturer in China, which includes brands such as GWM, Haval, and Tank.
Russia is Great Wall’s largest market following China, with its own Haval Motor Manufacturing Rus plant and more than 100 dealerships in Russia.
Last year, the Russian market brought Great Wall about 30 percent of its revenue.
Great Wall is the fourth company from China to be blacklisted in Ukraine, following navigation equipment producer Comnav Marine, China State Construction Engineering Corporation, and Xiaomi Corporation.
The list of international sponsors of war is a reputational tool, NAZK explains, adding that the designated companies are also included in the World-Check database, which keeps track of high-risk individuals and organisations and is used globally to identify and manage financial, regulatory and reputational risks.
Previously, such well-known companies as Metro, Procter & Gamble, Auchan Holding and Bonduelle were also listed.