Rubio Urges Colleagues to Support His Bill to Prohibit American Investment in Malicious Chinese Companies

U.S. Senator Marco Rubio (R-FL) urged his Senate colleagues to support his American Financial Markets Integrity and Security Act (S.570), which he reintroduced earlier this year, to prohibit American investment in Chinese companies that pose threats to our national security.

"American investment in Chinese companies has surged, even as the Chinese Communist Party (CCP) has turned increasingly authoritarian and reckless on the global stage," Rubio wrote. "According to the 2021 Annual Report to Congress of the U.S.-China Economic and Security Review Commission, U.S. holdings of Chinese equity and debt securities have risen by 57.5 percent since 2017, to $1.2 trillion total. Unreported flows through offshore investment vehicles and private equity mean this amount is likely significantly higher. Major Wall Street banks have in recent months announced the approval of large wealth management products focused on investing in the PRC."

"For the above reasons, I believe it is necessary that Congress act to restrict financial investment in the PRC," Rubio continued. "Our bill, the American Financial Markets Integrity and Security Act (S.570), would prohibit investment vehicles of all types--mutual funds, venture capital, private equity, ERISA plans and trusts, among others--from investing in Chinese companies listed on the Section 1237 Communist Chinese military companies list and the Commerce Department's Entity List."

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