Market Chatter: Senior US House Democrats Oppose Blacklisting of China-Linked Firms from US-Funded Research

MT Newswires Live12-09

Certain senior US House Democrats objected to the blacklisting of five Chinese-linked biotechnology companies from new federally funded research and contracts, Bloomberg News reported Sunday.

The Biosecure Act would have affected BGI Group, MGI Tech (SHA:688114), Complete Genomics., WuXi AppTec (HKG:2359, SHA:603259) and WuXi Biologics (HKG:2269), according to the report.

Jim McGovern of Massachusetts and Jamie Raskin of Maryland said there should be due process to get on and off any list that excludes companies from research funded by the US, Bloomberg wrote.

(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.)

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