U.S. stock exchanges need to de-register 31 Chinese companies Pentagon says are owned or controlled by Chinese military

Aug. 31, 2020, Fairfax, Va.—Americans for Limited Government President Rick Manning today issued the following statement urging U.S. stock exchanges to de-register 31 Chinese companies the Department of Defense has labelled as owned or controlled by the Chinese military:

“The Pentagon has named another eleven Chinese companies as owned or controlled by the Chinese military. The announcement comes on the heels of a June Pentagon announcement naming an additional twenty companies as Chinese military controlled. The size and scope of the companies named by the Department of Defense is breathtaking ranging from Huawei to China Communications Construction Company which is heavily involved in the Chinese government’s Belt and Road initiative.

“The Pentagon has named another eleven Chinese companies as owned or controlled by the Chinese military. The announcement comes on the heels of a June Pentagon announcement naming an additional twenty companies as Chinese military controlled. The size and scope of the companies named by the Department of Defense is breathtaking ranging from Huawei to China Communications Construction Company which is heavily involved in the Chinese government’s Belt and Road initiative.

“DoD’s on-going effort to identify Chinese companies which are national security threats is a momentous step forward in protecting American investors and most importantly businesses from entangling themselves with these risky and dangerous firms.

“The latest list includes: China Communications Construction Company (CCCC); China academy of Launch Vehicle Technology (CALT); China Spacesat; China United Network Communications Group Co Ltd; China Electronics Corporation (CEC); China National Chemical Engineering Group Co., Ltd. (CNCEC); China National Chemical Corporation (ChemChina); Sinochem Group Co Ltd; China State Construction Group Co., Ltd.; China Three Gorges Corporation Limited; China Nuclear Engineering & Construction Corporation (CNECC).

“This latest list points to the danger of U.S. investments in Chinese assets.  It is a dead certain guarantee that these companies litter Emerging Market Index Funds and U.S. investors have been unwittingly capitalizing these companies who are part of China’s effort to gain military capacity to challenge our nation.

“Every U.S. stock exchange which has any of the 31 companies listed on them, need to de-register them immediately.  What’s more portfolio managers and index fund managers have a responsibility to rid these companies from their investments.  Americans don’t want to capitalize China’s military industrial complex and those mutual funds which include Chinese investments unwittingly make Americans investors in companies focused upon defeating the United States of America.”

Interview Availability: Please contact Americans for Limited Government at 703-383-0880 or at media@limitgov.org.

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