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Security concerns over two Chinese telecom giants

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    Lawmakers issue warning on companies after new report

  • Duration 2:15
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World Bank has cut its economic growth forecast for East Asia and says China's slowdown.

Could get worse well that sent Wall Street stocks downward today the Dow lost only six and a half S&P 500 dropped five the NASDAQ fell 24.

Capitol Hill lawmakers are warning private sector business leaders to stay away from China's leading technology firms.

Correspondents had a brain tells us it's not so much about money.

As national security.

-- leaders of the House Intelligence Committee released a bipartisan report.

Following a year long investigation into two Chinese telecommunications.

Companies working to expand their presence here in the US.

Lawmakers already troubled by Chinese hacking and intellectual property theft.

-- the two companies refuse to answer their concerns about how the entities might access and misuse information from private medical records to military secrets.

We were disappointed.

By the incomplete contradictory.

And evasive responses we received by both companies throughout the entire investigation.

Because Chinese law allows that government to compel both companies to provide access to information they obtained.

Lawmakers are urging both public and private US entities not to do business with them.

When you look at what is at stake.

What information is at stake.

What critical infrastructure.

We would open up.

To the very threat of over both cyber espionage.

Infinite potential cyber attack if our adversaries so -- We can come to no other conclusion.

A spokesman for one of the company says quote this investigation and report are nothing more than a politics exercise that -- ignored technical commercial and cultural realities.

It's played out against the backdrop of the two presidential contenders jockeying to be seen as the man most likely to tackle China's misbehavior.

We -- gonna crack down on China what -- -- they've stolen our jobs that's gotta stop we brought more trade cases against China in one term.

-- the previous administration did in two.

Rogers who was once an FBI agent says the investigation also uncovered information that could lead to several criminal charges.

Including a significant bribery case that will be handed over to the FBI on Tuesday.

-- Chad thank you very.

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