A top senator is preparing a bill to ban Chinese companies from U.S. capital markets if they engage in spying, human rights abuse or support China's military, threatening a financial blow as tensions mount over COVID-19 and Beijing's crackdown on Hong Kong.
WASHINGTON - A top senator is preparing a bill to ban Chinese companies from U.S. capital markets if they engage in spying, human rights abuse or support China’s military, threatening a financial blow as tensions mount over COVID-19 and Beijing’s crackdown on Hong Kong.
“The Chinese Communist Party’s exploitation of U.S. capital markets is a clear and ongoing risk to U.S. economic and national security that must be addressed,” Rubio said in a statement to Reuters. The move by Rubio, acting chairman of the Senate Select Committee on Intelligence, comes as relations between Washington and Beijing have soured over China’s crackdown on Hong Kong via a national security law and the origins of the coronavirus, which has killed over 125,000 Americans.
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