Inside Track
248 Chinese Companies Now Listed on U.S. Exchanges
On May 13, the U.S.-China Economic and Security Review Commission released its report, Chinese Companies Listed on Major U.S. Stock Exchanges, listing 248 of Beijing’s corporate champions that have made new inroads into the American economy. The list includes Chinese companies on NASDAQ, the New York Stock Exchange, and NYSE American, the three largest U.S. exchanges. “As of May 5, 2021, there were 248 Chinese companies listed on these U.S. exchanges with a total market capitalization of $2.1 trillion,” the commission noted. The list is a “who’s who” of China’s top companies, plus a large contingent of smaller, lesser-known entities.
“Investors in Chinese companies may support activities that are contrary to U.S. national interests, including the development of technology used for censorship and surveillance and in support of the military,” the report states. “For example, Weibo Corporation, currently is valued at $11.6 billion. Weibo works under government direction to censor posts on its blogging platform and is used by the central and local governments to surveil and censor public protests. Ostensibly private companies in China are subject to pressure and control by the state.”
Besides obvious security risks, there are financial risks to investors as well, not only those investing directly in Chinese companies, but to the millions of unsuspecting Americans whose pension funds are invested in companies owned and/or controlled by the People’s Republic of China.
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