House Select Committee on the Chinese Communist Party

Former acting Homeland Security Secretary Chad Wolf warned that Chinese criminal organizations are infiltrating the U.S. hemp industry, posing public health and national security risks. He cited Oklahoma as an example where these groups operate a majority of hemp and marijuana farms, leading to issues like human trafficking and money laundering.

Former acting Homeland Security Secretary Chad Wolf warned that Chinese-linked actors and foreign criminal organizations are exploiting the U.S. hemp industry to distribute high-potency THC products, posing public health and national security risks. He cited evidence of these groups operating large-scale, unlicensed cultivation operations, particularly in Oklahoma, and linked them to broader criminal activities like human trafficking and money laundering.

The Pentagon added Alibaba, BYD, and Baidu to a list of Chinese military-linked companies, restricting their access to U.S. defense contracts. The Chinese Embassy criticized the move as discriminatory, while the Pentagon cited ties to China's defense industrial base through affiliations with the Ministry of Industry and Information Technology.

Congressional investigators found that JPMorgan Chase, Bank of America, and Morgan Stanley helped Chinese battery company CATL raise billions of dollars despite the Pentagon designating it as a military-linked firm. While the banks violated no U.S. law, the report argues they disregarded the government's military designation to earn millions in fees. The investigation highlights a policy gap where Pentagon designations lack enforcement mechanisms to prevent U.S. financial institutions from assisting restricted companies.

Congressional investigators found that JPMorgan Chase, Bank of America, and Morgan Stanley helped Chinese battery company CATL raise billions despite the Pentagon designating it as a military-linked firm. While the banks' actions were technically legal, the House Select Committee on the Chinese Communist Party argues they disregarded U.S. government warnings for financial gain.