By Ellen Fike, Cowboy State Daily
U.S. Rep. Liz Cheney has introduced a bill that would keep certain Chinese companies from accessing United States capital markets.
The Wyoming representative has never been shy about expressing her concerns about China and the fact that the United States must be careful when dealing with the country.
“The Chinese Communist Party regularly breaches America’s shores to steal our intellectual property, engage in espionage, feed off our markets, and more,” Cheney said.
This week, Cheney and two of her fellow Republican representatives introduced a bill that would prohibit any Chinese companies from accessing capital markets in the United States if they’re listed on the U.S. Department of Commerce’s “Entity List” or the Department of Defense’s list of Communist Chinese military companies.
The Entity List is one that contains names of certain foreign persons or entities that are subject to specific license requirements for the export, re-export and/or transfer of specified items.
In addition to prohibiting these companies from being listed on securities exchanges, this bill would prohibit American investment companies, insurance companies and retirement funds from investing in the Chinese companies on the Entity List.
Cheney worked alongside Utah Rep. Chris Stewart and Wisconsin Rep. Mike Gallagher on the bill.
Cheney is a member of the China Task Force that was created in May to look into threats posed to America’s freedom and security by the Chinese government.
“The U.S. must counter the CCP’s efforts to take advantage of our free and open system here at home, in addition to doing all we can to counter the CCP’s malign activities abroad,” Cheney said. “This legislation is a critical step toward making sure that CCP military companies can no longer exploit U.S. markets in support of China’s pernicious power projection, nuclear build-up, grave human rights abuses and other malign activities.”
Last week, President Donald Trump announced an executive order that similarly banned U.S. investment in Chinese companies identified on lists released in June and August by the Pentagon.
Just a few months ago, Cheney and a number of her Congressional colleagues inquired into the Walt Disney Company’s work with China during the filming of the live-action “Mulan” remake.