Alex Omenye

Two Republican lawmakers have urged the U.S. Securities and Exchange Commission to delist a group of Chinese companies, including tech giant Alibaba, citing alleged ties to China’s military and concerns over U.S. national security, the Financial Times reported Friday.

John Moolenaar, chair of the House Select Committee on the Chinese Communist Party, and Rick Scott, chair of the Senate Committee on Aging, addressed their concerns in a letter to SEC Chair Paul Atkins. The letter names 25 Chinese firms listed on U.S. stock exchanges, including Baidu, JD.com, and social media platform Weibo.

“These entities benefit from American investor capital while advancing the strategic objectives of the Chinese Communist Party—supporting military modernization and gross human rights violations,” the lawmakers wrote, according to the Financial Times. “They also pose an unacceptable risk to American investors.”

The letter argues that, regardless of their commercial appearance, the companies serve “nefarious state purposes” under Chinese government influence. The lawmakers called on the SEC to invoke its powers under the Holding Foreign Companies Accountable Act to suspend trading and begin delisting procedures.

The SEC, along with the companies named in the letter, did not immediately respond to requests for comment. Neither did the congressional committees involved.

Currently, over 100 Chinese companies are listed on U.S. exchanges, with a combined market capitalization of roughly \$1 trillion. Concerns over forced delistings have resurfaced amid ongoing tensions between Washington and Beijing, particularly following trade disputes and regulatory clashes.

Meanwhile, Beijing stated Friday it is “evaluating” a proposal from Washington to reopen trade talks, signaling a possible easing of hostilities that have unsettled global markets.