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2 weeks ago

Wall Street banks helped Chinese military-linked firm raise billions despite red flags, lawmakers find

FIRST ON FOX: Congressional investigators are accusing major U.S. banks of helping a Chinese battery giant the Pentagon labeled a "Chinese military company" raise billions of dollars from global investors despite unresolved national security concerns.A new report from the House Select Committee on the Chinese Communist Party alleges JPMorgan Chase and Bank of America underwrote CATL’s Hong Kong IPO — helping the company raise money from investors through stock offerings — after the Pentagon designated the company under its Section 1260H list of Chinese military-linked firms in January 2025. Th...