MEDIA PACKAGE: Select Committee on CCP Hearing: "Systemic Risk: The Chinese Communist Party's Threat to U.S. Financial Stability"
NEW YORK, NY- Today, Chairman Mike Gallagher (R-WI), Ranking Member Raja Krishnamoorthi (D-IL), and members of of the House Select Committee on the Chinese Communist Party held a field hearing in New York City on the systemic risk of the Chinese Communist Party to American financial stability.
The Select Committee was joined by witnesses Jay Clayton, Former Chairman of the Securities and Exchange Commission, and Anne Stevenson-Yang, Founder of J Capital Research, and received written testimony from Jim Chanos, President and Founder of Kynikos Associates.
Watch highlights from the hearing below.
Video & B-roll for public broadcast and distribution is available HERE.
Chairman Gallagher on the Select Committee's meetings in New York:
“Almost everyone we’ve met with [in New York} has asked that we keep their identity secret… these are the same people that have no problem going to Hong Kong or Beijing.”
View a downloadable clip of Chairman Gallagher HERE.
Ranking Member Krishnamoorthi’s message to Wall Street leaders:
“Divest from these companies…
Don’t be a part of the problem…
Don’t be invested in PLA military modernization…
Don’t facilitate espionage…
Don’t invest in companies that facilitate human rights abuses.”
View a downloadable clip of Ranking Member Krishnamoorthi HERE.
Rep. Ashely Hinson inquires about what the lack of CCP economic reporting signals to US investors.
“Transparent information is the lifeblood of markets… the information [investors] are getting is not as reliable… as it was expected to be," said former SEC Commissioner, Jay Clayton.
View a downloadable clip of the exchange HERE.
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Anne Stevenson-Yang on the CCP's failure to follow international norms: “We face fundamental disjunctions between the US and Chinese systems. Countries expect one another to follow norms…Giving true information about the economy, not stealing intellectual property, not committing human rights abuses…China does none of these things.” View a downloadable clip of Ms. Stevenson-Yang HERE. |
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Click HERE for Chairman Gallagher's opening remarks Click HERE for Jay Clayton's written testimony Click HERE for Jim Chanos' written testimony Click HERE for Anne Stevenson-Yang's written testimony |