The House Select Committee on the Chinese Communist Party has issued subpoenas to JPMorgan Chase and Bank of America, requiring the banks to provide documents related to their roles in the initial public offering (IPO) of Chinese battery maker Contemporary Amperex Technology Co. (CATL).
In a July 24 statement, Rep. John Moolenaar (R-Mich.), chair of the committee, said CATL is “a key player in China’s military-civil fusion strategy,” which poses risks to U.S. investors and the national security of the United States.
Moolenaar said the committee had requested the banks to provide all documents related to their roles in underwriting CATL’s IPO in April but has yet to receive all the required information....
