Legislators in the US have called on the Securities and Exchange Commission to delist Chinese groups that allegedly have military ties, posing an "unacceptable risk" to US investors, according to a letter to the SEC sent Friday.
Among those lawmakers want delisted include Alibaba (HKG:9988), Baidu (HKG:9888), JD.com (HKG:9618), Weibo, Hesai, Qifu Technology (HKG:3660), Tencent Music (HKG:1698), Daqo New Energy (SHA:688303), Luokung Tech, CCSC Technology, Pony AI, Zeekr, XPeng (HKG:9868), WeRide, Nano Labs, Pinduoduo, BiliBili, Full Truck Alliance, JinkoSolar (SHA:688223), and Scienjoy.
"These entities benefit from American investor capital while advancing the strategic objectives of the Chinese Communist Party," according to the letter.
The legislators said the Chinese Communist Party maintains "sweeping authority" across all firms, and no company is truly private, adding the extent of control by the CCP is hidden from US investors, according to the letter.
The companies are "actively integrated" into Chinese military and surveillance operations, the legislators said.
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