BEIJING (TheStreet) -- In what might be a warning shot aimed at health and beauty multinationals, China's consumer product safety agency has announced that it recently seized 36 lots of imported, name-brand products.
Incoming shipments of Elizabeth Arden (RDEN - Get Report) skin gel, Johnson & Johnson (JNJ - Get Report) baby shampoo, Revlon (REV - Get Report) lipstick, Kao shampoo, Fa soap and Maybelline (owned by L'Oreal (LRLCY)) nail polish were blocked at Shanghai and other ports for "substandard quality" or "cargo certification" problems in recent weeks.
The Chinese government's General Administration of Quality Supervision, Inspection and Quarantine announced the action March 8, saying all intercepted products had been destroyed before reaching stores.
In a story on Monday, March 10, the official People's Daily newspaper said the products were "the first 2014 lots on a blacklist of imported, substandard cosmetics."The quantity of goods in each lot was not disclosed, but the announcement implied that more seizures of imported personal care products could be expected. The announcement was unusual because it emphasized several famous, multinational brand names and affected more products than usual for Chinese dockside action against health and beauty imports.
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts