[20210902]IF11803_美国资本市场和中国：国会议题.pdf

https:/crsreports.congress.gov Updated September 2, 2021U.S. Capital Markets and China: Issues for CongressFinancial ties between the United States and China have expanded significantly over the past few years. The government of the Peoples Republic of China (PRC or China) has created limited openings in Chinas debt and equity markets, while Chinas firms have sought access to U.S. capital, debt, and private equity markets. The Rhodium Group estimates that, as of December 2020, U.S. investors held $100 billion of Chinese debt and $1.1 trillion in Chinese equities, while Chinese investors held $1.4 trillion in U.S. debt and $720 billion in U.S. equities. This data may understate flows. The Financial Times estimates that, based on Bloomberg data, foreign investment in Chinese equities and bonds was $806 billion as of July 2021. Some in Congress have raised concerns that U.S. investors may fund Chinese state and military-tied firms. Congress passed the Holding Foreign Companies Accountable Act (P.L. 116-222) to address its concerns about the lack of compliance by PRC firms with the U.S. Security and Exchange Commissions (SECs) statutory audit requirements. Chinese firms appear to use