New: American Banks May Have Helped Chinese Military Firms Raise Billions
An investigation by the House of Representatives Select Committee on China has revealed that American banks may have assisted Chinese military firms in raising billions. The report highlights that JPMorgan and Bank of America underwrote the IPO of a company linked to the Chinese military, despite known connections to forced labor. The findings have prompted calls for policy changes to prevent American banks from facilitating funding for adversarial entities.
- ▪The investigation found that American banks helped Chinese companies tied to the Chinese Communist Party and military raise significant funds.
- ▪JPMorgan and Bank of America underwrote the IPO of Contemporary Amperex Technology Co., Ltd., despite its designation as a 'Chinese military company.'
- ▪Morgan Stanley sponsored the IPO of Zijin Gold, even after its parent company was added to the Uyghur Forced Labor Prevention Act Entity List.
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New: American Banks May Have Helped Chinese Military Firms Raise Billions By Ward Clark | 1:14 PM on May 21, 2026 The opinions expressed by contributors are their own and do not necessarily represent the views of RedState.com. AP Photo/Bebeto Matthews, FILE An investigation carried out by the House of Representatives Select Committee on China has revealed that American banks may have been involved in helping Chinese interests tied to the Chinese Communist Party and the Chinese People's Liberation Army raise billions of dollars. It is belaboring the obvious that having China raise money on this scale isn't in the best interests of the United States.
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