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WASHINGTON, D.C. – The American Securities Association (ASA) yesterday issued the following statement from President & CEO Chris Iacovella on the introduction of the Countering Communist China Act by Republican Study Committee Chairman Kevin Hern (R-OK) and RSC National Security Task Force Chairman Joe Wilson (R-SC). The legislation enacts targeted trade, financial services, energy, technological, and human rights policies to counter the malign influence and theft perpetuated by the People’s Republic of China and the Chinese Communist Party.
“The Chinese Communist Party has exploited U.S. capital markets and mislead American investors to fund its genocide, human rights abuses, and climate destruction for far too long. ASA applauds Chairman Kevin Hern (R-OK) and the Republican Study Committee for introducing the Countering Communist China Act because it strengthens America’s economic and national security, protects American investors, and ends China’s abuse of our markets,” said ASA President & CEO Chris Iacovella. “Stopping the CCP threat is not a Republican or Democrat issue- it is an American issue, and ASA looks forward to working with all Members of Congress to protect this country.”
This bill includes a policy to prohibit the flow of American investor dollars into mainland Chinese companies listed on mainland Chinese stock exchanges controlled by the CCP (i.e. China A-Shares).
In addition to Hern and Wilson, the Countering Communist China Act has 43 original co-sponsors, including Representatives Jeff Duncan, Lance Gooden, John Curtis, Lisa McClain, Clay Higgins, Diana Harshbarger, Tim Burchett, Kat Cammack, Beth Van Duyne, Doug LaMalfa, Tom Tiffany, August Pfluger, Guy Reschenthaler, David Rouzer, Neal Dunn, Chuck Fleischmann, Alex Mooney, Chuck Edwards, Russell Fry, Marjorie Taylor Greene, Mike Collins, Eric Burlison, Jake Ellzey, Mike Garcia, Brian Babin, Aaron Bean, Jodey Arrington, French Hill, Dale Strong, Jack Bergman, Jeff Van Drew, Chris Smith, Mark Alford, Ben Cline, Nick Langworthy, Cory Mills, Doug Lamborn, Daniel Webster, Jim Baird, Mike Kelly, Scott Franklin, Russ Fulcher, and Mike Ezell.
Read more about the Countering Communist China Act here.
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About the American Securities Association
American Securities Association, based in Washington, DC, represents the retail and institutional capital markets interests of regional financial services firms who provide Main Street businesses with access to capital and advise hardworking Americans how to create and preserve wealth. ASA’s mission is to promote trust and confidence among investors, facilitate capital formation, and support efficient and competitively balanced capital markets. This mission advances financial independence, stimulates job creation, and increases prosperity. The ASA has a geographically diverse membership of almost one hundred members that spans the Heartland, Southwest, Southeast, Atlantic, and Pacific Northwest regions of the United States.
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