South Miami-Dade News

MIAMI, FL - Congressman Carlos A. Giménez (FL-28) has expressed his concerns following the release of the findings from the House Select Committee on the Strategic Competition between the United States and the Chinese Communist Party (CCP). The committee's bipartisan investigation focused on the connection between five U.S. venture capital firms and their investments in Communist China. It was discovered that these firms had invested a staggering $3 billion into companies that provide critical technology to Communist China, including those involved in military activities, surveillance, and the genocide of Uyghurs in Xinjiang.

The five firms under scrutiny in the investigation are GGV Capital, GSR Ventures, Qualcomm Ventures, Sequoia Capital China, and Walden International. Congressman Carlos A. Giménez emphasized the need to address this issue, stating, "American money must never be used to fuel Communist China's war machine, their repressive surveillance state, and the genocide of the Uyghur people."

Rep. Gimenez highlighted the challenge of Communist China's policy of military-civil fusion, which ensures that no technology company can escape the influence of the CCP. He stressed the urgency to sever ties with Communist China, stating, "We must immediately and fully decouple from Communist China." Rep. Gimenez also expressed his commitment to working with his colleagues on the Select Committee on China to counter the malign influence of the CCP.

The House Select Committee on the Strategic Competition between the United States and the CCP is dedicated to examining the threats posed by Communist China and developing a plan of action to safeguard the American people, our economy, and our values.

Congressman Carlos Giménez represents Miami-Dade County and the Florida Keys. As the only Cuban-born Member of the 118th Congress, he fled his homeland after the Communist takeover of the island. Rep. Giménez brings a unique perspective to his role, having served as the former Fire Chief of the City of Miami and Mayor of Miami-Dade County. He currently serves on the House Armed Services Committee, the Homeland Security Committee, and the Select Committee on China.

This investigation serves as a reminder of the importance of vigilance when it comes to the investment practices of American venture capital firms. As the United States continues to navigate its relationship with Communist China, it is crucial to prioritize national security and ensure that American funds do not inadvertently support activities that are incompatible with American values.