US-China Relations - 33. page

China Security Times (SecuTimes or STCN) recently reported that the U.S. Securities and Exchange Commission (SEC) has stopped processing the registration of U.S. IPOs of Chinese companies and their other sales of securities. The SEC is crafting a new investor risk disclosure guidance to respond to Beijing’s recent regulatory crackdown. SEC Chairman Gary Gensler later publicly stated on the SEC official website that he raised concerns about the way Chinese companies are going public in the U.S. He said that the Chinese government has recently put forward new guidance and restrictions on Chinese companies raising funds overseas, including conducting cyber security reviews for these companies. The SEC plans to require overseas issuers related to Chinese operating companies to make more disclosures and especially to ensure that they are clearly disclosed in a prominent position. The SEC also plans to conduct additional targeted examinations on the listing applications of companies with major business operations in China. In June, the SEC removed the chairman of the Public Company Accounting Oversight Board (PCAOB). That Board was considered negligent in promoting independent audits of Chinese companies listed in the United States. The SEC is also under pressure to finalize the delisting rules for Chinese companies that do not meet the U.S. audit requirements. Around 418 Chinese companies are listed on U.S. exchanges.

Source: STCN, July 30, 2021
https://news.stcn.com/sd/202107/t20210730_3495645.html

Well-known Chinese news site Sina (NASDAQ: SINA) recently reported that, on July 23, the spokesperson for the Chinese Ministry of Foreign Affairs commented in a press conference, due to the “new legal landscape,” on the U.S. Biden Administration’s latest official risk advisory for businesses, investors, individuals and academic institutions operating in Hong Kong. The U.S. Office of Foreign Assets Control of the U.S. Department of the Treasury has included seven deputy directors of the Chinese Liaison Office in Hong Kong on the “Specially Designated Nationals List” and imposed financial sanctions. China firmly opposes this and strongly condemns it. Based on China’s Anti-Foreign Sanctions Act, China decided to adopt a reciprocal countermeasure and sanction the following: former U.S. Secretary of Commerce Wilbur Ross, US-China Economic and Security Review Commission (USCC) Chairman Caroline Bartholomew, former office director of the Congressional-Executive Commission on China (CECC) Jonathan Stilworth, DoYun Kim from the National Democratic Institute for International Affairs (NDI), Adam King, Authorized representative of the American International Republican Institute (IRI) in Hong Kong, Director of the China Department of Human Rights Watch Sophie Richardson, and the Hong Kong Democracy Committee (HKDC).

Radio France International (RFI) Chinese Edition later reported that the White House responded on the same day that the U.S. will not be afraid of this and will still strive to use all relevant sanction tools going forward.

Sources:
Sina, July 23, 2021
https://news.sina.com.cn/c/2021-07-23/doc-ikqcfnca8659876.shtml
RFI Chinese, July 23, 2021
https://bit.ly/3eQrlSy

The Chinese official media Global Times recently launched an online petition urging the international community to investigate whether the U.S. military’s Fort Detrick Biological Laboratory was the origin of the new coronavirus.

As of July 26, the petition was alive and the number of signatures has been growing over time. The signatories below the signature counter did not post any name, but simply stated that a “netizen” from somewhere in China had participated. The increase in the number of signatures is considerable. According to Global Times, the signatures began on July 17 and by July 22 more than 5 million people had signed. Just one day later, by midnight Beijing time on July 23, the number of signatures jumped to more than 9.4 million. By July 26, the number was over 13.7 million.

The petition is in response to an open letter allegedly signed by Chinese netizens in early June of this year calling for a WHO investigation into the U.S. Fort Detrick Biological Laboratory.

The letter claimed that the U.S. military’s Fort Detrick Biological Laboratory had a leak in the fall of 2019 on the eve of the Covid-19 outbreak, and that the U.S. side covered up the details in the interest of national security. This has led to concerns about whether the event was related to the coronavirus and to calls for a WHO investigation.

In fact, Fort Detrick has been a thorn in the side of Chinese officials since March of last year. Chinese Ambassador to the United States Cui Tiankai said last March that the notion that the virus came from a U.S. lab was crazy. However, according to the website of Foreign Policy magazine, from early March last year until now, Chinese officials and state media have mentioned the Fort Detrick lab more than four hundred times in articles, videos, tweets and press conferences and have repeatedly asked the lab to open up for China to send its staff to investigate.

The narrative linking Fort Detrick to the coronavirus in these conversations is that U.S. Army soldier Maatje Benassi brought the virus from the Fort Detrick to Wuhan in October 2019 while he was there for the World Military Games.

Richard H. Ebright, professor of chemistry and chemical biology at Rutgers University, denounced this claim as utter nonsense, telling Radio Free Asia that the analysis of the genome sequence of the coronavirus extracted from humans indicates that this virus infected human bodies in or near Wuhan sometime around September to November 2019.

According to public information, the Fort Detrick Biological Laboratory, which is part of the U.S. Army Medical Research Institute of Infectious Diseases (USAMRIID), did receive a directive from the Centers for Disease Control to close in 2019. The New York Times reported that a USAMRIID spokesperson said at the time that the closure was primarily due to a lack of proper disinfection of the lab, but that there was no threat that would endanger public safety, nor was there any leakage of hazardous materials that would cause injury to anyone.

Source: Radio Free Asia, July 22, 2021
https://www.rfa.org/mandarin/yataibaodao/huanjing/wy-07222021111401.html

Days before meeting with U.S. Deputy Secretary of State Wendy Sherman, Chinese Foreign Minister Wang Yi repeatedly named and criticized the United States.

“The U.S. has always wanted to use its strength to exert pressure on other countries, conveying the idea that it is superior. But I want to tell the U.S. side clearly that there has never been any superior country in this world, nor should there be a superior country. China will not accept any country claiming to be superior.” Wang said this at a press event on July 24, when meeting with the Pakistan Foreign Minister in Chengdu, Sichuan.

Wang continued, “If the United States has not yet learned how to deal with other countries on an equal footing, it is our responsibility, along with the international community, to give the United States this lesson.”

On July 25, Wang met with the Foreign Minister of Finland in Chengdu, Sichuan. When asked by a reporter, Wang said, “The U.S. side is hyping up the lab leak theory with the presumption of guilt. Its purpose is to shift the blame for its own ineffectiveness in fighting the epidemic and to achieve the political goal of discrediting and suppressing other countries. … It is necessary to write this ugly page in the history of the human race’s fight against the epidemic.”

“We should trace the original source of not only the new coronavirus, but also the political virus.” He criticized the WHO’s second stage of Covid-19 origin probe as a deviation from the requirements of the 73rd WHO General Assembly resolution. “It seems that the U.S. has returned to the WHO with the intention of not joining the international fight against the epidemic but of continuing to use the platform to spread political viruses.”

Deputy Secretary of State Wendy Sherman arrived in Tianjin on July 25 and was scheduled to meet with Wang Yi on Monday July 26. She was also to meet with China’s Vice Foreign Minister Xie Feng, who oversees U.S.-China relations.

Source: Central News Agency, July 26, 2021
https://www.cna.com.tw/news/acn/202107260015.aspx