this post was submitted on 15 Nov 2025
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United States | News & Politics

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U.S. Bank Morgan Stanley Queried by Congressman on Gold Miner Zijin’s Hong Kong IPO over the Chinese company's alleged use of forced labour (scribe.disroot.org)
submitted 7 months ago by randomname@scribe.disroot.org to c/usa@midwest.social
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  • Morgan Stanley is facing scrutiny from the Republican head of the US House China committee over its role in underwriting the Hong Kong initial public offering (IPO) of Zijin Gold International Co.
  • The committee is questioning whether Morgan Stanley performed enough due diligence, given that Zijin Gold's parent, Zijin Mining Group, is on a US blacklist for allegedly violating restrictions on using forced labor.
  • The request for information from Morgan Stanley is part of a broader review into the involvement of Wall Street banks in IPOs of Chinese companies with known ties to China's military or past track records of labor abuses.

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