The Council recommends that RLX Technology Inc be excluded from the GPFG because of the company’s production of tobacco or tobacco products.
RLX Technology Inc is a holding company registered in the Cayman Islands. RLX is the company behind Relx, the leading brand in the Chinese e-cigarette market. On the basis of the information available, the Council has assessed whether RLX Technology Inc or entities under its control produce tobacco or tobacco products. The Council finds that RLX Technology Inc controls Shenzhen Wuxin Technology Co Ltd, whose subsidiary Shenzhen Fangxin Technology produces e-liquid containing nicotine from tobacco plants.
The Council submitted its recommendation to Norges Bank on June 26, 2024. Norges Bank announced its decision to exclude the company on January 15, 2025.