MIAMI, FL - Today, Congressman Carlos A. Giménez (FL-28) issued the following statement after the House Select Committee on the Strategic Competition between the United States and the Chinese Communist Party (CCP) unveiled the findings of their bipartisan investigation into five U.S. venture capital firms and their connection to Communist China. The Committee found that these firmed invested at least $3 billion into companies that provide Communist China with critical technology, including aiding the Chinese military, the surveillance state, and the genocide of Uyghurs in Xinjiang.
“American money must never be used to fuel Communist China’s war machine, their repressive surveillance state, and the genocide of the Uyghur people,” said Rep. Gimenez. “Communist China’s policy of military-civil fusion ensures no technology company can escape the evil tentacles of the CCP. We must immediately and fully decouple from Communist China and I look forward to continuing working with my Select Committee on China colleagues to curb the malign influence of the CCP.”
The five firms used as case studies in the investigation are GGV Capital, GSR Ventures, Qualcomm Ventures, Sequoia Capital China, and Walden International.
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Click HERE to read the letter to GGV Capital
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Click HERE to read the letter to GSR Ventures
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Click HERE to read the letter to Qualcomm Ventures
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Click HERE to read the letter to Walden International
- Click HERE to read the letter to Sequoia
The House Select Committee on the Strategic Competition between the United States and the CCP is committed to examining the threats posed by Communist China and developing a plan of action to defend the American people, our economy, and our values.