WASHINGTON, D.C. — The Coalition for a Prosperous America (CPA) today applauded House Select Committee on the Chinese Communist Party Chairman John Moolenaar (R-MI) for pursuing a permanent legislative solution to codify President Trump’s America First Investment Policy—a decisive step to ensure that American capital can no longer fund China’s military buildup, surveillance state, and human rights abuses.
CPA strongly supports Chairman Moolenaar’s leadership and echoes his call to bar Chinese firms, including Alibaba, from accessing U.S. capital markets and technological innovation. As Chairman Moolenaar stated, “Alibaba shouldn’t have access to U.S. markets and innovation.” The company has been tied to the Chinese Communist Party’s (CCP) intelligence apparatus and has helped enable state surveillance and censorship across China as well as shared U.S. customer data and cyber vulnerabilities with the People’s Liberation Army (PLA).
“Chairman Moolenaar is taking the necessary steps to protect the American people and U.S. investors from funding our adversaries,” said Zach Mottl, Chairman of CPA. “China’s corporations are not independent businesses—they are arms of the CCP’s military and intelligence operations. The America First Investment Policy rightly seeks to ensure that Wall Street can no longer channel hundreds of billions of U.S. dollars into companies that build China’s military, commit human rights atrocities, and threaten our national security. CPA strongly supports Chairman Moolenaar’s effort to codify this policy into law.”
CPA previously praised President Trump’s America First Investment Policy memorandum, issued in February 2025, which directed U.S. agencies to restrict capital flows to Chinese entities tied to the CCP and PLA, including those linked to military modernization, surveillance, and forced labor. Together, these actions represent a historically important correction to decades of failed economic and financial engagement that allowed U.S. capital to fuel China’s rise at the expense of American workers, manufacturers, and investors.
“The CCP’s economic warfare depends on access to American money and markets,” said Jon Toomey, President of CPA. “Chairman Moolenaar and President Trump understand that we cannot build a secure America while our financial institutions, index providers and retail investors are bankrolling Beijing’s malevolent ambitions. Congress should move swiftly to pass legislation to codify the America First Investment Policy as the permanent foundation of U.S. capital market security.”
CPA has long warned that U.S. index funds and asset managers have funneled trillions of dollars into Chinese firms over the past two and a half decades—many of them officially sanctioned or blacklisted for ties to the People’s Liberation Army and human rights abuses—through passive investment vehicles and opaque exchange listings. Companies like Alibaba, Tencent, and Hikvision have benefited enormously from this access, raising billions of U.S. dollars to fund technologies to be used for military purposes and internal repression.
The America First Investment Policy and Chairman Moolenaar’s proposed legislation mark a critical shift toward decoupling U.S. capital markets from funding Chinese corporate bad actors, ensuring that American savings and retirement funds are no longer weaponized against our nation.
CPA has released a series of three case-study reports to Congress exposing the growing influence of the Chinese Communist Party over major U.S. asset manager and other financial institutions. Together, these reports detail how leading Wall Street firms, asset managers, and index providers — including BlackRock, Vanguard, FTSE Russell, Goldman Sachs, and MSCI — have formed deep financial ties with CCP-controlled entities and funneled billions of dollars annually in U.S. investor capital into Chinese companies linked to human rights abuses, the military, and companies sanctioned by the U.S. government. Collectively, the findings show a pervasive and dangerous pattern: the CCP has secured unprecedented leverage over U.S. financial giants, creating serious risks to America’s economic and national security.
- Read: “Inside the Wire: Wall Street’s Joint Ventures with the Chinese Communist Party”
- Read: “Case Study for Congress: Vanguard & FTSE Russell – How Wall Street Funds the CCP & PLA with U.S. Investor Capital”
- Read: “Case Study for Congress: BlackRock & MSCI: How Wall Street’s Offshore Companies Fund the CCP & PLA”
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