The House Select Committee on the Chinese Communist Party has raised concerns about U.S. venture capital firms investing in Chinese tech startups. Lawmakers expressed serious concern about investments in artificial intelligence, chipmakers, and quantum computing companies in China, particularly due to national security concerns. In letters sent to four firms, the committee identified multiple investments by Qualcomm Ventures and GGV Capital, linking them to human rights violations and military advancements in China, with particular concern over investments in SenseTime and Megvii, both involved in Uyghur surveillance. The outreach is part of a bipartisan effort to increase pressure on U.S. investments in China amid rising tensions between the two economies and escalating national security concerns.
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00:00 It's Benzinga and here's what's on the block.
00:02 The House Select Committee on the Chinese Communist Party has raised concerns about
00:06 U.S. venture capital firms investing in Chinese tech startups.
00:11 Lawmakers expressed serious concern about investments in areas such as artificial intelligence,
00:15 chipmakers and quantum computing companies in China, particularly due to national security
00:20 concerns.
00:21 In letters sent to four firms, the committee identified multiple investments by Qualcomm
00:25 Ventures and GGV Capital, linking them to human rights violations and military advancements
00:30 in China, with particular concern over investments in Sennstein and Megvi, both involved in weaker
00:36 surveillance.
00:37 The outreach is part of a bipartisan effort to increase pressure on U.S. investments in
00:41 China amid rising tensions between the two economies and escalating national security
00:46 concerns.
00:47 For all things money, visit Benzinga.com.
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