Gallagher on G42 Divestment from Chinese Companies

Chairman Mike Gallagher (R-WI) released the following statement after United Arab Emirate firm, G42, announced it has sold its stake in Chinese companies. News of G42's divestment follows a letter Chairman Gallagher sent to Commerce last month citing concerns about G42's extensive business relationships with Chinese military companies, state-owned entities, and the PRC intelligence services.

"Following my letter, I’m glad to see G42 reduce its investment exposure to Chinese companies. There is no such thing as a private company in China and any investment in China, particularly in blacklisted entities, only funds and facilitates the Chinese Communist Party’s human rights abuses, military build-up, and techno-totalitarian surveillance state. The UAE is a critical and powerful ally, one that will only become more important for regional and global stability as AI advances. Therefore, it is imperative the United States and the UAE further understand and mitigate any high-risk commercial and research relationships with PRC entities. This announcement is a welcome first step to reduce exposure to the CCP and I encourage other companies to do the same."