By Bob Katzen

A hearing was held by the Economic Development and Emerging Technologies Committee on a measure that would establish a special commission to study the financial relationship between Massachusetts entities and companies owned by the Chinese government.

“This legislation will provide lawmakers and the public with vital information about the nature and size of Chinese investment in the commonwealth,” said sponsor Rep. Brad Jones (R-North Reading). “In recent years, the Chinese government has attempted to use its economic power to influence the policies of foreign governments, such as Canada and Australia, by imprisoning visiting businesspeople on spurious charges, abruptly terminating contracts with foreign companies after upfront expenses have been paid and stealing intellectual property.”

Jones continued, “Massachusetts companies, specifically those in the biotech, software, manufacturing and finance sectors, are particularly vulnerable to pressure applied by the Chinese government. By creating a commission to study the financial relationship between Massachusetts entities and companies owned by the Chinese government, [this bill] will help identify the state’s economic vulnerabilities so we can devise an effective strategy to protect local industries.”