Washington DC, April 21 -- JPMorgan Chase & Co. CEO Jamie Dimon and Bank of America CEO Brian Moynihan on Thursday received a letter from John Moolenaar, chairman of the United States House Select Committee on Chinese Communist Party (SCCCP), requesting that the banks drop their participation in Contemporary Amperex Technology Co., Limited's (CATL) impending Hong Kong IPO.

The Department of Defense has classified CATL as a "Chinese military company" in accordance with Section 1260H of the National Defense Authorisation Act, according to a report by SCCCP.

According to the letters, there is rising concern that JPMorgan and Bank of America's participation in the CATL IPO directly supports the Chinese Communist Party's continued violations...