{"id":1987932,"date":"2023-08-01T15:57:02","date_gmt":"2023-08-01T19:57:02","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/congress-launches-investigation-of-investment-firms-for-strengthening-chinas-military\/"},"modified":"2023-08-01T15:58:44","modified_gmt":"2023-08-01T19:58:44","slug":"congress-launches-investigation-of-investment-firms-for-strengthening-chinas-military","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/congress-launches-investigation-of-investment-firms-for-strengthening-chinas-military\/","title":{"rendered":"Congress probes investment firms for bolstering China&#8217;s military."},"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%2Fcongress-launches-investigation-of-investment-firms-for-strengthening-chinas-military%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=1987932&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--><section id=\"article\">\n<article data-post-title=\"Congress Launches Investigation of Investment Firms for Strengthening China\u2019s Military\" data-post-slug=\"http:\/\/irans-illicit-oil-exports-hit-five-year-high\" data-post-url id=\"print-1775796\">\n<div>\n<figure><figcaption>\n<p>          \u200b      Soldiers of the People&#8217;s Liberation Army shout during\u2062 the rehearse of the parade early \u2062morning on October 01, 2019, in Tiananmen Square, Beijing, China. \/ Getty Images<br \/>\n\u2062       \u200b<br \/>\n        <\/figcaption><\/figure>\n<\/p><\/div>\n<div>\n<h2>Congress Launches Investigation of Investment \u2063Firms for Strengthening China\u2019s Military<\/h2>\n<p>A congressional committee is currently investigating top American investment firms for funneling millions\u2063 to companies flagged by\u200d the U.S. government for strengthening the Chinese military \u200dand aiding in human rights abuses.<\/p>\n<p>The House \u2063Select Committee \u200con the\u200b Chinese Communist Party launched probes into BlackRock and MSCI on Monday, according to the <em>Wall Street Journal<\/em>. A committee review found that these firms are\u2063 facilitating \u200cinvestment in more than 60 Chinese companies flagged by U.S. federal agencies. For example, five funds managed by BlackRock have invested over $429 million in such companies.<\/p>\n<p>Although this activity is legal, U.S. firms are\u2063 &#8220;exacerbating an already significant national-security \u200cthreat and undermining American\u2064 values,&#8221; said committee chair \u200dRep. Mike Gallagher (R., Wis.) \u200cand ranking\u2064 member Rep. Raja Krishnamoorthi (D., Ill.) in letters sent Monday.<\/p>\n<h3>Biden Administration&#8217;s Slow Response<\/h3>\n<p>The investigation comes \u2062as the Biden\u200b administration remains\u200b slow to block American money and technology from fueling Chinese military tech advancement and human \u2063rights abuses. President Joe\u200c Biden has been \u2062planning since \u2063June to implement new restrictions on U.S. AI chips sent to China, but the new rules are now expected by mid-August. U.S. chipmakers \u200dtraveled to Washington last month to meet\u2064 with White House officials, \u200dwarning them against tight restrictions\u200c on chip exports to\u200b China.<\/p>\n<p>The Biden administration also granted Chinese tech company\u200b Huawei\u2064 $60 billion in export licenses earlier this year, despite\u200b national security\u200c sanctions on \u200cthe company. Administration officials from the Defense,\u2062 State, and Commerce departments last \u2063month told Congress their\u2064 departments would seek to prevent the company from receiving American tech. Only the FCC acted to shut off American tech\u200c flow to Huawei last \u2064week.<\/p>\n<h3>State Pension Funds \u2062and\u2064 Federal Employee Pension Fund<\/h3>\n<p>The <em>Washington \u200bFree Beacon<\/em> reported last month\u2063 that the top three largest state pension \u2064funds in the United States invest millions in Chinese companies \u2064blacklisted by the federal government for national\u200b security and\u2063 human rights reasons. Many <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/republican-state-treasurers-withdraw-1-billion-from-blackrock-over-esg-investments\/\" title=\"Republican State Treasurers Withdraw  Billion From BlackRock Over ESG Investments\"><a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/desantis-warns-ben-jerrys-unilever-youve-got-90-days-to-reverse-israel-boycott\/\" title=\"DeSantis Warns Ben &#038; Jerry\u2019s, Unilever: You\u2019ve Got 90 Days To Reverse Israel Boycott\">state pension funds<\/a> invest<\/a> in \u200bindex\u2064 funds managed\u2064 by investment firms like \u2064BlackRock and MSCI. A similar review of the <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/congress-launches-investigation-of-investment-firms-for-strengthening-chinas-military\/\" title=\"Congress probes investment firms for bolstering China's military.\">federal employee\u2063 pension fund found investments<\/a> in sanctioned Chinese companies.<\/p>\n<h3>Continued Probing of CCP Ties<\/h3>\n<p>The select committee continues to probe ties between the CCP and American companies. Gallagher and Krishnamoorthi launched an investigation last\u2063 month into \u200bventure capital firms invested in Chinese AI, semiconductor, and quantum computing companies. Former intelligence official Bill Evanina told Congress Wednesday that a \u200dChinese company trying to build a battery factory in Michigan will \u2064&#8221;100 percent&#8221; bring spies to the\u200d United States.<\/p>\n<p><strong>Published under:<\/strong><\/p>\n<ul>\n<li><a href=\"https:\/\/freebeacon.com\/tag\/china\/\" title=\"View all posts in China\">China<\/a><\/li>\n<\/ul>\n<\/p><\/div>\n<\/article>\n<\/section>\n","protected":false},"excerpt":{"rendered":"<p>A congressional committee is probing American investment firms for channeling millions to companies aiding the Chinese military and human rights violations. Soldiers of the People&#8217;s Liberation Army rehearse a parade in Beijing&#8217;s Tiananmen Square, China.<\/p>\n","protected":false},"author":2083,"featured_media":1987933,"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":[544],"tags":[],"class_list":["post-1987932","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-the-free-beacon"],"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\/1987932","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\/2083"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1987932"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1987932\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1987933"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1987932"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1987932"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1987932"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}