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U.S. Lawmakers Call on SEC to Delist Alibaba, Other Chinese Firms

May 03, 2025, 3:04 a.m. ET

AsianFin -- Two Republican lawmakers are pressing the U.S. Securities and Exchange Commission (SEC) to delist Chinese companies—including tech giant Alibaba Group, citing alleged ties to China’s military that pose risks to U.S. national security, the Financial Times reported on Friday.

According to the report, Representative John Moolenaar, chair of the House Select Committee on the Chinese Communist Party, and Senator Rick Scott, chair of the Senate Committee on Aging, sent a letter to SEC Chair Paul Atkins urging action against 25 Chinese firms currently listed on U.S. exchanges.

“These entities benefit from American investor capital while advancing the strategic objectives of the Chinese Communist Party—including military modernization and gross human rights abuses,” the lawmakers wrote. “They also pose an unacceptable risk to American investors.”

Among the companies named are search engine provider Baidu, e-commerce platform JD.com, and social media giant Weibo.

The lawmakers warned that, despite their commercial appearance, these companies are “ultimately harnessed for nefarious state purposes,” according to the FT.

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