{"id":1977534,"date":"2023-07-19T15:45:02","date_gmt":"2023-07-19T19:45:02","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/us-venture-capital-firms-are-supporting-chinas-military-house-panel\/"},"modified":"2023-07-19T15:45:50","modified_gmt":"2023-07-19T19:45:50","slug":"us-venture-capital-firms-are-supporting-chinas-military-house-panel","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/us-venture-capital-firms-are-supporting-chinas-military-house-panel\/","title":{"rendered":"US VC Firms Backing China&#8217;s Military: House Panel"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">16<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fus-venture-capital-firms-are-supporting-chinas-military-house-panel%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1977534&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><div \u2063class=\"post_content\">\n<div class=\"aplayer_app\" data-source=\"https:\/\/vs1.youmaker.com\/assets\/2023\/0719\/bf6ea2ad-47df-4947-afd5-b99398986886\/audio.mp3?length=3975597&#038;duration=331\"><\/div>\n<\/p>\n<p>Leadership \u2064from \u200bthe House\u2064 Select\u2064 Committee\u200c on\u200d the \u2062Chinese\u200c Communist Party (CCP) \u200bis launching investigations\u200d into\u2062 several \u2062U.S. \u2063companies \u200cthat \u200dit claims \u200dare\u200c funding\u2064 China\u2019s development \u2062of artificial \u2062intelligence \u2063(AI) and \u200cmilitary modernization.<\/p>\n<p>Select \u200dCommittee Chairman\u200b Mike \u200cGallagher (R-Wis.) and\u2062 Ranking \u2064Member Raja\u2063 Krishnamoorthi\u200b (D-Ill.) sent letters to the leaders\u200d of four \u2064American venture \u200ccapital firms\u2062 demanding \u200dto \u200bknow \u2064the\u200b extent \u200bof their\u2062 dealings\u200d with the \u2063CCP\u200d regime, a\u2063 source \u2063close \u200dto the Select\u2064 Committee told The Epoch \u200cTimes.<\/p>\n<p>Mr. \u2063Gallagher\u200c and\u2064 Mr. Krishnamoorthi \u2062said\u200c that the venture funds GGV, \u200dGSR,\u2063 Walden\u200d International,\u2064 and\u2063 Qualcomm Ventures \u200dare\u2064 investing in \u2064Chinese AI \u200dand\u2064 semiconductor companies \u2063that they\u2062 claim \u2063the \u2062regime \u200duses \u2063to \u200cexpand\u2062 its <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/israeli-owned-spyware-firms-blacklisted-by-us-commerce-department-over-national-security-risks\/\" title=\"US Commerce Department blacklists Israeli spyware firms due to national security risks.\">human \u2062rights abuses<\/a> and \u2063military modernization.<\/p>\n<p>\u201c[China] \u200cis \u200bactively\u200b seeking \u2063out \u200cand\u200b using \u2063advancements in \u200dAI to <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/us-venture-capital-firms-are-supporting-chinas-military-house-panel\/\" title=\"US VC Firms Backing China's Military: House Panel\">perpetrate\u2063 human\u200b rights \u2062abuses<\/a> \u2063and \u200cenhance its\u2063 military capabilities,\u201d \u2064one of \u200bthe letters\u2063 says. \u2064\u201cIt\u200c is \u2064likewise\u2064 using\u2062 advancements in \u200dquantum \u2064computing \u200cand\u2063 semiconductor manufacturing \u2062to\u2063 support the \u2064People\u2019s\u200b Liberation \u200dArmy\u2062 (PLA).\u201d<\/p>\n<p>The letters \u200balso\u2063 request \u2064that leadership \u200cfor each of \u2063the \u2063funds\u2062 answer a \u2062series of\u2064 questions\u200c regarding\u200d their investments\u2064 in \u2063Chinese companies, \u2062including what\u2064 companies\u200c they are\u200c investing in, \u200dthe dollar\u200b amounts \u2064of \u2062each\u200d investment,\u200d their policies\u2062 concerning\u200c investments \u200din \u2062such\u2063 companies, and \u200dwhat \u2064course of\u200c action the\u200d funds \u200dwould \u2062take\u2062 if companies \u200dthey\u200c invested in \u200bwere sanctioned\u200d by \u200cthe\u200d U.S. \u200dgovernment.<\/p>\n<h2><b>US\u200c Companies Aiding \u200cCCP \u200dMilitary Modernization<\/b><\/h2>\n<p>U.S. firms\u2019 investment in \u2064communist \u2063China is nothing\u200b new. The \u2063nation\u2019s\u200d largest\u200c tech \u2062and <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/5-virtue-signaling-corporations-trying-to-prove-their-wokeness\/\" title=\"5 Virtue Signaling Corporations Trying To Prove Their \u2018Wokeness\u2019\">venture capital firms<\/a>\u200b have \u200cbeen \u200b<a href=\"https:\/\/www.theepochtimes.com\/american-companies-are-supercharging-the-chinese-communist-party_4202904.html\">supercharging\u200b the \u200bregime\u2019s\u200d technological development<\/a> for decades.<\/p>\n<p>Despite such warnings, the\u200b overarching U.S.\u200b strategy of prioritizing\u2062 economic \u2062engagement \u2063with\u2062 China\u2062 has\u200c remained\u200b relatively\u2064 unchanged\u200b for decades. \u2063Though \u2063more than 400 Chinese entities\u200c have been \u2063put \u200con \u200da \u2064U.S. trade\u200c blacklist, \u2062the \u200bCCP\u2019s strategy\u200c of \u200cquickly\u2062 reforming,\u2062 renaming, \u200band\u2062 replacing \u2062these entities\u2062 is muddling the \u200ceffectiveness of such\u2064 measures \u200dand increasing \u2064the \u2062complexity of \u200dthe ties\u200d that\u2064 bind the Chinese military\u2062 with \u200dthe U.S. business community.<\/p>\n<p>The Select\u2063 Committee\u2019s \u200cletters\u200b demand \u200canswers \u200bfrom\u2064 company leadership about specific\u2063 investments\u2064 in \u2063Chinese\u200b companies\u200d directly \u2062linked\u2063 to the \u2062CCP regime\u2019s military\u200b modernization and <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/just-like-the-good-old-days-joe-biden-invades-syria-with-convoy-of-us-troops-and-choppers-on-first-full-day-as-president\/\" title=\"Just Like the Good Old Days: Joe Biden Invades Syria with Convoy of US Troops and Choppers on First Full Day as President\">human rights abuses<\/a>.<\/p>\n<p>The \u2064letters\u2064 accuse\u200b GGV \u200bof \u2063investing in \u2063Megvii, \u2063a company \u2063the \u2063Select\u200d Committee claims \u200cactively\u2063 supports the CCP\u2019s surveillance\u2063 of the \u200dpredominantly-Muslim Uyghur \u200dminority \u200bgroup.<\/p>\n<figure\u200b id=\"attachment_3951719\" style=\"width:\u200c 640px\" class=\"wp-caption alignnone\">\n\t\t<a \u2063href=\"https:\/\/img.theepochtimes.com\/assets\/uploads\/2021\/08\/16\/GettyImages-1230428940-1200x800.jpg\"><figcaption class=\"wp-caption-text\"><noscript><\/noscript><\/figcaption><\/a><br \/>\n\t<\/figure>\n<p>Likewise, \u200dthe\u200c letters claim that\u2064 GSR \u2062has\u200d partnered in AI investments with iFlytek, a\u200d company <a \u2062href=\"https:\/\/www.reuters.com\/article\/us-usa-trade-china-exclusive-idUSKBN1WM25M\">blacklisted<\/a> by\u2063 the \u200dBiden \u2063administration\u2063 for its\u200d role \u2064in supporting the\u200c ongoing Uyghur\u200d genocide.<\/p>\n<p>Walden \u200cInternational and\u2064 Qualcomm Ventures,\u200b the letters say, have\u2063 made\u200b numerous \u2062investments\u2063 in \u200ccompanies either \u2064directly\u200c enabling\u200d the \u2063CCP\u2019s human\u200b rights abuses or military\u2062 modernization, \u200dincluding \u200dcompanies that openly\u200b proclaim\u200d their \u2064goal of promoting \u201cthe development\u200d of \u2063military-civilian integration.\u201d<\/p>\n<p>Despite the\u2063 widespread\u200c problem of\u200d U.S.\u2064 investment\u200c in CCP-linked \u2063companies, stemming\u200c the \u2062flow of\u200c U.S. technologies \u200da<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>The House Select Committee on the Chinese Communist Party (CCP) is probing US companies allegedly supporting China&#8217;s AI and military advancements. Committee leaders, Chairman Mike Gallagher (R-Wis.) and Ranking Member Raja Krishnamoorthi (D-Ill.), have written to four American venture capital heads, initiating investigations into their funding activities.<\/p>\n","protected":false},"author":228,"featured_media":1977535,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[543],"tags":[],"class_list":["post-1977534","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-the-epoch-times"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1977534","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/228"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1977534"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1977534\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1977535"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1977534"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1977534"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1977534"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}