U.S. investments in about 50 blacklisted Chinese companies is under scrutiny from the House of Representatives Select Committee on the Chinese Communist Party.
asking for more information about the firms' facilitation of U.S. investments into those Chinese companies.
The Chinese companies were blacklisted over claims of supporting China's military or alleged human rights abuses, the committee said. It noted the initial review did not include one of the largest blacklists, the U.S. Department of Commerce's Entity List.MSCI said in a statement it is reviewing the request for information, and that it doesn't "facilitate" investments in any country.
The U.S. House committee estimated that five BlackRock funds have invested more than $429 million into the blacklisted names. Those companies also accounted for nearly 5% of the MSCI China A Index's value as of March 1, the committee said.The request for information comes as the U.S. has increased its scrutiny of financial ties with China.backed legislation that would require U.S.
when investing in advanced Chinese technology on national security concerns. An earlier version of the legislation had called for investment restrictions. President Joe Biden has long been expected to issue an executive order that would restrict U.S. investment in high-end Chinese tech. No action has yet been announced.
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