JONES KEEPS UP THE FIGHT AGAINST COMMUNIST CHINESE TAKEOVER OF AMERICAN MARKETS

Sep 27, 2017 Issues: Economy and Jobs

WASHINGTON, DC – Congressman Walter B. Jones (NC-3) is continuing to push the federal government to protect American financial markets from communist China. Twice in the past year, Congressman Jones has sounded the alarm with the U.S. Securities and Exchange Commission (SEC) about the proposed takeover of the Chicago Stock Exchange (CHX) by a Chinese firm – Chongqing Casin Enterprise Group (CCEG). On August 9th, 2017, the SEC put the deal on hold pending further review.  Yesterday, Congressman Walter B. Jones (NC-3) and 17 of his congressional colleagues wrote to the leaders of the commission to thank them for their delay of the proposed takeover, and to again ask them to ultimately block it.

“Stopping this deal is just common sense,” said Congressman Jones.  “Why would America ever give communist Chinese a key piece of our financial markets?” 

Today’s letter specifically states, “…this transaction would expose our markets to new vulnerabilities as a result of potential undue and unnecessary state influence from the Chinese government. Public trust in the integrity and security of our financial markets is the bedrock of our national security, and it will be impossible for the SEC to fully monitor Chinese government involvement or manipulation over the Chicago Exchange.”

Congressman Jones has consistently fought against the efforts of communist China to buy strategic American businesses.  In 2013, Congressman Jones fought the Chinese purchase of Smithfield Foods, Inc., the world’s largest pork producer and processer.  Despite his efforts, the merger was finalized and was the largest-ever acquisition of an American corporation by a Chinese company.

The full letter to SEC Chairman Clayton, Commissioners Piwowar and Stein, and Director Seidel is attached.

For additional information, please contact Allison Tucker in Congressman Walter Jones’ office at (202) 225-3415 or Allison.tucker@mail.house.gov.

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