BASF Accelerates Withdrawal from Xinjiang Amid Human Rights Concerns

German chemicals producer BASF has announced its decision to withdraw from its two joint ventures in Xinjiang, China, following reports of alleged human rights abuses related to its partner company, Markor Chemical. Despite not finding evidence of violations in its due diligence measures, BASF cited recent reports as inconsistent with its values. The decision comes after a group of politicians urged the company to withdraw from Xinjiang, where state-sponsored human rights abuses against Uyghurs have been widely reported. BASF's CEO emphasized that the company was not involved in the alleged abuses and hopes to complete the withdrawal within the next few months.