More on CCP Economic Aggression
A new bipartisan investigation by the Select Committee on China, led by Chairman John Moolenaar (R-MI) and Ranking Member Ro Khanna (D-CA), finds that stock brokerage Webull Financial has not been transparent about its links to China. In addition to finding that the company’s practices exposed American investors’ data to surveillance risks in China, the investigation also documents how the company is controlled by China-linked executives and its China-based subsidiary receives subsidies and cash rewards from Chinese government authorities.
Chairman John Moolenaar of the Select Committee on China has sent a letter to Chairman Kevin Warsh of the Board of Governors of the Federal Reserve System formally requesting a review of the current repurchase agreement facility it has set up with the Hong Kong Monetary Authority (HKMA). This facility was initially created during the COVID pandemic to provide liquidity to Hong Kong prior to the Chinese Communist Party-imposed National Security Law.
In the letter, Moolenaar writes:
Today, Select Committee on China Chairman John Moolenaar delivered his opening statement at the Select Committee’s hearing titled Import Controls: Tools to Counter the CCP's Industrial Policy and Supply Chain Threats.
---------------------------------------------------------------------------------------------
Good morning.
Last October, China weaponized its chokehold over rare earths in a massive expansion of its export controls. The Chinese Communist Party’s escalation threatened commerce globally, and it represented an economic declaration of war against the United States.
Today, the House of Representatives passed bipartisan legislation that will target Chinese companies who abuse our nation’s trade laws. The Protecting American Industry and Labor from International Trade Crimes Act would create a new Department of Justice task force to enforce trade-related crimes committed by Chinese companies including but not limited to tariff and duty evasion, import and export restrictions, trade-based money laundering, smuggling, and other import and export-related crimes. The legislation is led by Select Committee on China (SCC) Chairman John Moolenaar and SCC members Congresswoman Ashley Hinson (R-IA), Congressman Raja Krishnamoorthi (D-IL), and others.
Chairman John Moolenaar (R-MI) of the Select Committee on China and Senators John Cornyn (R-TX) and Tom Cotton (R-AR), the Chairman of the Senate Select Committee on Intelligence, have introduced the Stop PRC Economic Espionage Act of 2026. This bill amends current law to make it harder for Chinese entities to commit economic espionage, and easier for the U.S. justice system to prosecute them for it.
Witnesses:
- Mr. David Shedd, Former Acting Director of the Defense Intelligence Agency
- Mr. Michael Lucci, Founder & CEO of State Armor
- Mr. John C. Yang, President and Executive Director of Asian Americans Advancing Justice
Washington, D.C. — The House Select Committee on China has issued subpoenas to three Chinese state-owned telecommunications companies—China Mobile, China Telecom, and China Unicom—after the companies failed to respond to a formal bipartisan congressional request for information sent on March 4. These subpoenas demand compliance by May 7, 2025, and are part of an ongoing investigation into whether the firms are continuing to operate in the United States in ways that could impact national security and Americans’ data privacy.
WASHINGTON, D.C. — Chairman John Moolenaar (R-MI) of the House Select Committee on the Strategic Competition Between the United States and the Chinese Communist Party (CCP), Chairman Roger Williams (R-TX) of the House Committee on Small Business, and Chairman Brian Babin (R-TX) of the House Committee on Science, Space, and Technology announced today their decision to send joint letters to the 11 federal agencies who participate in the Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) programs, providing billions of dollars annually to small American technology companies. These letters aim to address concerns over China’s exploitation of American taxpayer-funded innovation and to safeguard U.S. national security.
WASHINGTON D.C. — Chairman John Moolenaar (R-MI) and Ranking Member Raja Krishnamoorthi (D-IL) of the House Select Committee on the Strategic Competition Between the United States and the Chinese Communist Party today criticized Lam Research for its failure to disclose information about the company’s sale of semiconductor manufacturing equipment to the People’s Republic of China (PRC) in the Select Committee’s ongoing investigation. This is one of multiple investigatory steps the Select Committee is taking to shed light on China’s use of U.S. and allied semiconductor manufacturing equipment to undermine American security and interests.
WASHINGTON D.C. — This morning, Chairman John Moolenaar (R-MI) of the House Select Committee on the Chinese Communist Party welcomed President Trump's decision to impose across the board tariffs on the People's Republic of China.
The Chairman welcomed both the tariffs, that went into effect at midnight, and the closing of the "de minimis" loophole that allowed goods valued at under $800 to enter the country without inspections or duties. Last year, the Select Committee issued a report highlighting how abuse of "de minimis" allowed companies such as Shein and Temu to flood American markets with products, often produced through slave labor, and cost Americans their jobs.