Source: United States Senator for Nebraska Ben Sasse
U.S. Senator Ben Sasse, a member of the Senate Select Committee on Intelligence, issued the following statement after the SEC announced the decision to set new disclosure requirements for Chinese IPO applicants.
“This is good news but long overdue. Chinese companies, heavily puppeteered by the CCP and with technology transfer obligations to the PLA, have failed to comply with basic U.S. regulations for years — and have only had their wrists slapped with strongly worded letters. Chairman Xi shudders at the thought of basic American standards of transparency, yet he regularly succeeds at extracting concessions from U.S. companies — on everything from data privacy to gross statements denying his genocide against the Uyghurs and winking at his lust to seize Taiwan — in exchange for access to Chinese markets. Going forward, if Chinese companies want access to U.S. markets, they need to prove they aren’t Chairman Xi’s minions. This SEC requirement is a good step toward actual enforcement of our regulations, but if we’re going to outrun the CCP’s ambitions of financial and technological hegemony, we need to become much more disciplined.”
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