WASHINGTON, DC: A top senator is preparing a bill to ban Chinese companies from US 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.
"In the coming weeks, I will be introducing legislation to ban these companies from operating in US capital markets and make clear to the Communist Party that they will no longer be able to exploit our financial system," he added. 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.On Monday, the United States began eliminating Hong Kong's special status under US law, halting defence exports and restricting the territory's access to advanced technology as retaliation for the move.
"The list of PLA-affiliated Chinese enterprises released by the Pentagon is symptomatic of the broader challenge represented by Chinese companies in our capital markets from an investor protection, national security and human rights perspective," said Robinson, referring to the People's Liberation Army.
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