Catenaa, Monday, May 05, 2025-Two Republican lawmakers are pressing the US Securities and Exchange Commission (SEC) to delist Alibaba Group and other major Chinese companies from American exchanges, citing concerns over ties to China’s military and the potential risk to national security, according to the Financial Times.
John Moolenaar, chair of the House Select Committee on China, and Rick Scott, chair of the Senate Committee on Aging, called on SEC Chair Paul Atkins to take action against 25 Chinese firms they claim benefit from US capital while supporting Beijing’s strategic goals.
“These entities benefit from American investor capital while advancing the strategic objectives of the Chinese Communist Party, including military modernization and serious human rights abuses,” the lawmakers said in a letter reported by FT. They described the companies as posing an “unacceptable risk” to US investors.
The letter cited companies such as Alibaba (9988.HK), Baidu (9888.HK), JD.com (9618.HK), and Weibo (9898.HK), arguing that their commercial operations mask their subordination to China’s state apparatUS
The lawmakers said the SEC should act under the Holding Foreign Companies Accountable Act, which gives it authority to suspend trading and delist foreign companies that fail to meet US oversight standards.
The SEC and the named companies did not respond to Reuters’ requests for comment. The push comes as Washington and Beijing navigate rising tensions over trade, military alignment, and technology.
More than 100 Chinese companies are listed on US exchanges, representing a combined market capitalization near $1 trillion.
