The U.S. Securities and Exchange Commission and the Commerce Department are investigating Boeing Co.’s relationship with a satellite startup backed by a Chinese government-owned firm, following an article by The Wall Street Journal on the matter last month. In a letter to the Los Angeles-based startup Global IP, the SEC requested that the company retain all documents about its work with Boeing and a number of other individuals and entities, including state-owned Chinese lender China Orient Asset Management Co. ...
Global IP is investigating Boeing 's links to US start-up Global IP , which is backed by Chinese lender China Orient Asset Management . The inquiry follows a report in December by China Orient Asset Management about a contract between the Wall Street Journal and Boeing to build a satellite, which it was feared could later come under Chinese military control. US law prohibits the selling of satellites to US . Shortly after the WSJ story was published, Boeing said it had scrapped the contract, and the Commerce Department’s Bureau of Industry and Security revoked Boeing 's export licence.