Chairman Moolenaar, Chairman Scott Urge SEC to Delist CCP-Linked Companies from U.S. Markets
WASHINGTON, D.C. – Chairman Moolenaar of the House Select Committee on China and Chairman Rick Scott of the Senate Committee on Aging have sent a letter to Securities and Exchange Commission (SEC) Chairman Paul Atkins urging the Commission to begin delisting Chinese companies that pose serious national security and investor protection risks.
The letter identifies Chinese firms listed on U.S. stock exchanges—including major players like Alibaba, Baidu, Hesai, and Zeekr—benefit from American capital markets while simultaneously advancing the strategic objectives of the Chinese Communist Party (CCP), including military modernization, surveillance, and forced labor.
"These companies are not just commercial entities; they are instruments of the Chinese Communist Party's broader strategy to undermine U.S. interests," said Chairman Moolenaar. "The SEC must act decisively to protect American investors and national security."
Why This Matters to Americans
American retirement dollars may be funding the CCP: U.S.-listed Chinese companies like Alibaba, JD.com, and Tencent Music are backed by the Chinese military or embedded in China’s surveillance state. Most Americans with 401(k)s or pensions have no idea they’re invested in these firms.
These companies don’t play by the rules: Many use shell structures that hide ownership, cannot be properly audited, and are shielded from disclosing their ties to the CCP. That means American investors are flying blind.
They support human rights abuses and slave labor: Several listed firms are tied to forced labor in Xinjiang or provide tech for the CCP’s mass surveillance of its citizens—including Uyghurs and other minorities.
They threaten U.S. national security: Some companies on U.S. exchanges have helped build weapons systems for the PLA, supported drone warfare, or enabled cyber intrusions targeting American infrastructure.
The Committee urged the SEC to act under the Holding Foreign Companies Accountable Act and Sections 12(j) and 12(k) of the Securities Exchange Act to suspend or delist entities that cannot comply with U.S. law by design.
The SEC has the tools to act, and the letter urges immediate enforcement to prevent U.S. markets from becoming a financing vehicle for America’s foremost adversary.
The full letter includes detailed profiles of CCP-linked firms and outlines concrete steps the SEC can take to protect U.S. investors and national security.
The letter was also signed by a broad, bicameral group of lawmakers from both chambers, including:
- Chairman Rick Scott
- Rep. Rob Wittman
- Rep. Andy Barr
- Rep. Darin LaHood
- Rep. Gus Bilirakis
- Senator Jim Justice
- Rep. Dan Newhouse
- Rep. Ashley Hinson
- Rep. Nathaniel Moran
You can read the full letter HERE.
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