Market Chatter: US Democrat Congressman to Block Bill Banning Business with Chinese Biotech Firms

MT Newswires Live09-09

A US Democratic lawmaker plans to help block a bill banning government business with WuXi Biologics (Cayman) (HKG:2269), BGI (SHE:300676), and other Chinese biotechnology companies due to national security issues, Reuters reported Saturday.

Massachusetts Representative Jim McGovern said the process for including the Chinese companies in the list is non-existent. McGovern also said he could not obtain a sufficient reason for WuXi Biologics' inclusion in the list.

WuXi Biologics is building an installation in McGovern's district.

McGovern said that while he finds issues with companies providing information to China's government, he finds the bill "lousy," the report said.

Congress is about to vote on the Biosecure Act on Monday. The bill, if it becomes law, will prohibit federal contracts with companies to protect the health and genetic information of Americans and US pharmaceutical supply chains, the report said.

Among those identified as companies of concern are MGI Tech (SHA:688114), unit Complete Genomics, and WuXi AppTec (HKG:2359, SHA:603259).

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Price (HKD): $11.26, Change: $+0.20, Percent Change: +1.81%

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap

Leave a comment

{"i18n":{"language":"en_US"},"isChannel":false,"data":{"share":"https://ttm.financial/m/news/2466138808?lang=en_US&edition=fundamental","thumbnail":"","is_english":true,"pubTime":"2024-09-09 13:35","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"2466138808","market":"nz","top_or_hot":-1,"title":"Market Chatter: US Democrat Congressman to Block Bill Banning Business with Chinese Biotech Firms","media":"MT Newswires Live","content":"<html><body><p> A US Democratic lawmaker plans to help block a bill banning government business with WuXi Biologics (Cayman) (HKG:2269), BGI (SHE:300676), and other Chinese biotechnology companies due to national security issues, Reuters reported Saturday.</p><p>Massachusetts Representative Jim McGovern said the process for including the Chinese companies in the list is non-existent. McGovern also said he could not obtain a sufficient reason for WuXi Biologics' inclusion in the list.</p><p>WuXi Biologics is building an installation in McGovern's district.</p><p>McGovern said that while he finds issues with companies providing information to China's government, he finds the bill \"lousy,\" the report said.</p><p>Congress is about to vote on the Biosecure Act on Monday. The bill, if it becomes law, will prohibit federal contracts with companies to protect the health and genetic information of Americans and US pharmaceutical supply chains, the report said.</p><p>Among those identified as companies of concern are MGI Tech (SHA:688114), unit Complete Genomics, and WuXi AppTec (HKG:2359, SHA:603259).</p><p>(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)</p><p>Price (HKD): $11.26, Change: $+0.20, Percent Change: +1.81%</p></body></html>","source":"mtnewswires_news","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Market Chatter: US Democrat Congressman to Block Bill Banning Business with Chinese Biotech Firms</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nMarket Chatter: US Democrat Congressman to Block Bill Banning Business with Chinese Biotech Firms\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-09-09 13:35 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.mtnewswires.com/><strong>MT Newswires Live</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>A US Democratic lawmaker plans to help block a bill banning government business with WuXi Biologics (Cayman) (HKG:2269), BGI (SHE:300676), and other Chinese biotechnology companies due to national ...</p>\n\n<a href=\"https://www.mtnewswires.com/\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"LU0456827905.SGD","symbol_name":"JPMorgan Funds - China A (acc) SGD","start_time":0,"source_url":"https://www.mtnewswires.com/","article_id":"2466138808","we_media_id":"1092851196","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2466138808","pubTimestamp":1725860119,"sourceInfo":{"source_id":"mtnewswires_news","name":"MT Newswires"},"weMediaInfo":{"media_name":"MT Newswires Live","introduction":"The most recognized names in North America, Europe and Asia rely on MT Newswires to power their applications. Better news, better service, better price.","home_visible":1,"id":"1092851196","head_image":"https://community-static.tradeup.com/news/3002d84abbd5ace3c99397c7f95b8d4e"},"summary":"A US Democratic lawmaker plans to help block a bill banning government business with WuXi Biologics (Cayman) (HKG:2269), BGI (SHE:300676), and other Chinese biotechnology companies due to national sec","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"300676":"华大基因","603259":"药明康德","688114":"华大智造","LU0456827905.SGD":"JPMorgan Funds - China A (acc) SGD","LU0516423091.SGD":"FULLERTON LUX FUNDS - ASIA FOCUS EQUITIES \"I\" (SGD) ACC","LU2045819591.USD":"Natixis WCM Global Emerging Markets Equity R/A USD","LU0348825331.USD":"ALLIANZ CHINA EQUITY \"A\" (USD) INC","LU0588546209.SGD":"Eastspring Investments - China Equity Fund AS SGD","LU2242644610.SGD":"Fidelity China Innovation A-ACC-SGD","LU1242518931.SGD":"Fullerton Lux Funds - Asia Absolute Alpha A Acc SGD","LU1794554557.SGD":"Allianz All China Equity AT Acc H2-SGD","LU2125910500.SGD":"Natixis WCM Global Emerging Markets Equity H-R/A SGD","LU0327786744.USD":"Janus Henderson Horizon China Opportunities A2 USD","LU0979878070.USD":"FULLERTON LUX FUNDS - ASIA ABSOLUTE ALPHA \"A\" (USD) ACC","BK0197":"中小创蓝筹","02359":"药明康德","BK0221":"专业技术","LU0181495838.USD":"施罗德新兴亚洲A Acc","IE0002270589.USD":"LEGG MASON CLEARBRIDGE VALUE \"A\" (USD) INC","BK4526":"热门中概股","02269":"药明生物","LU1861558580.USD":"日兴方舟颠覆性创新基金B","BK4503":"景林资产持仓","LU0052750758.USD":"富兰克林中国基金A Acc","LU0320764599.SGD":"FTIF - Templeton China A Acc SGD","BK4551":"寇图资本持仓","BK1610":"ETF&股票定投概念","LU0359201612.USD":"贝莱德中国基金A2","LU0516422440.USD":"FULLERTON LUX FUNDS - ASIA FOCUS EQUITIES \"A\" (USD) ACC","BK4581":"高盛持仓","LU0516422366.SGD":"Fullerton Lux Funds - Asia Focus Equities A Acc SGD","LU1046422090.SGD":"Fidelity Pacific A-SGD","LU0516422952.EUR":"FULLERTON LUX FUNDS - ASIA FOCUS EQUITIES \"I\" (EUR) ACC","LU0140636845.USD":"施罗德大中华区股票A Acc","LU1861559042.SGD":"日兴方舟颠覆性创新基金B SGD","LU1997245177.USD":"安联神洲A股基金","IE00B0JY6N72.USD":"PINEBRIDGE GLOBAL EMERGING MARKETS FOCUS EQUITY \"A\" (USD) ACC","IE00BHPRN162.USD":"BNY MELLON BLOCKCHAIN INNOVATION \"B\" (USD) ACC","BK1576":"医药外包概念","BK1583":"高瓴概念","HKD":"尚乘数科","LU1997245094.SGD":"安联神州A股基金AT Acc SGD","LU0856984785.SGD":"HSBC GIF MANAGED SOLUTIONS ASIA FOCUSED GROWTH \"ACH\" (SGDHDG) ACC","LU0708995583.HKD":"TEMPLETON CHINA \"A\" (HKD) ACC","BK4023":"应用软件","SG9999002562.SGD":"LionGlobal Asia Pacific SGD","BK4554":"元宇宙及AR概念","SG9999002463.SGD":"LionGlobal China Growth SGD","LU1720050803.USD":"安联全方位中国股票基金"},"translate_title":"市场热议：美国民主党众议员将阻止禁止与中国生物技术公司开展业务的法案","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"300676":0.9,"603259":0.9,"688114":0.9,"HKD":1,"02359":0.9,"02269":0.9},"content_text":"A US Democratic lawmaker plans to help block a bill banning government business with WuXi Biologics (Cayman) (HKG:2269), BGI (SHE:300676), and other Chinese biotechnology companies due to national security issues, Reuters reported Saturday.Massachusetts Representative Jim McGovern said the process for including the Chinese companies in the list is non-existent. McGovern also said he could not obtain a sufficient reason for WuXi Biologics' inclusion in the list.WuXi Biologics is building an installation in McGovern's district.McGovern said that while he finds issues with companies providing information to China's government, he finds the bill \"lousy,\" the report said.Congress is about to vote on the Biosecure Act on Monday. The bill, if it becomes law, will prohibit federal contracts with companies to protect the health and genetic information of Americans and US pharmaceutical supply chains, the report said.Among those identified as companies of concern are MGI Tech (SHA:688114), unit Complete Genomics, and WuXi AppTec (HKG:2359, SHA:603259).(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)Price (HKD): $11.26, Change: $+0.20, Percent Change: +1.81%","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.1","shortVersion":"4.29.1","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2466138808"}