US House Committee Aims to Curb Chinese Tech and Military Investment, Calls for Disclosure of China Risks by US Companies

A bipartisan House committee in the U.S. is calling for legislation to restrict American investment in Chinese companies, particularly in areas such as artificial intelligence, quantum computing, and biotechnology, due to concerns about funding the Chinese government's military ambitions and human rights abuses. The committee highlighted the risk of supporting the Chinese Communist Party's aggression towards Taiwan and cited the presence of sanctioned Chinese companies in government employee pension funds. The committee also questioned the preparedness of Wall Street firms in guarding against potential economic risks posed by the People's Republic of China. JPMorgan Chase expressed concerns about strained relations with China and the impact on its operations in the country.