Go back a decade and most Americans had never heard of Huawei. Today, the Chinese telecom giant is a symbol of how quickly China can dominate a strategic technology sector and in the process create new national security and market threats for U.S. government and industry.

Democratic Senator Mark Warner of Virginia, the top Democrat on the Senate Select Committee on Intelligence, is now worried about another Chinese company that he predicts will eclipse Huawei in both scale and consequence: BGI. It is not building cell towers or smartphones for the 5G era. It is collecting DNA.

"If Huawei was big, BGI will be even bigger," Warner said at the CNBC CFO Council Summit in Washington, D.C. on Wednesday.

BGI is one of the largest genomics companies in the world. It operates DNA sequencing labo

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