US lawmakers urge SEC to delist Alibaba and Chinese companies, FT reports

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US lawmakers urge SEC to delist Alibaba and ******** companies, FT reports

(Reuters) – Two Republican lawmakers have urged the U.S. Securities and Exchange Commission to delist ******** companies, including Alibaba Group, that they say have military links that put U.S. national security at risk, the Financial Times reported on Friday.

The chair of the House China committee, John Moolenaar, and the chair of the Senate committee on ageing, Rick Scott, wrote to SEC chair Paul Atkins to take action against 25 ******** groups, listed on U.S. exchanges, FT said.

“These entities benefit from American investor capital while advancing the strategic objectives of the ******** ********** party . . . supporting military modernisation and gross human rights violations,” they said in the letter, according to FT. “They also pose an unacceptable risk to American investors.”

The companies also include search engine

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, online retail platform JD.com and the popular social media platform Weibo.

The lawmakers said that the ******** companies were “ultimately harnessed for nefarious state purposes,” no matter how commercial they appeared on the surface, according to the FT report.

They said that the SEC had the tools and authority under the Holding Foreign Companies Accountable Act to suspend trading and compel delisting.

The SEC, Alibaba, JD.com and

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did not immediately respond to Reuters requests for comment. The Select Committee on the ******** ********** Party and the U.S Senate committee also did not immediately respond to requests for comment.

More than 100 ******** companies are listed on U.S. exchanges and have a collective market cap of around $1 trillion.

Investor concerns over the possible forced de-listing of ******** companies from U.S. exchanges reemerged since the ****-for-tat trade war between the world’s two largest economies.

Beijing said on Friday it is “evaluating” an offer from Washington to hold talks over President Donald Trump’s crippling tariffs, signalling a potential de-escalation in the trade war that has roiled global markets.

(This story has been refiled to remove extraneous word ‘the’ in paragraph 1)

(Reporting by Juby Babu in Mexico City; Editing by Shailesh Kuber)

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#lawmakers #urge #SEC #delist #Alibaba #******** #companies #reports

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