Investment review finds limited funds in China

Sioux Falls, South Dakota, South Dakota (AP) — South Dakota Gov. Christy Nome said on Wednesday in a recent study of the state’s investment portfolio that while the state does not invest directly in China, it does invest in the economic power of Asia. It said it was found to be an investor in an emerging markets fund.

The Republican governor, seen as a front-runner for the 2024 White House, has targeted China with recent orders. It examined the China ties of its $100 million portfolio and argued that all companies in the country are tied to the Communist Party government. In her letter, released Wednesday, she called on Congress and Vanguard Group to support the state’s efforts to withdraw from China.

In a series of hawkish actions and statements, Noem seeks to define China as “a country that hates us”, arguing that China poses a threat to America’s food supply, and urging congressional leaders to The letter claimed that the Chinese government had “invaded China”. He is the home of Americans using TikTok, a popular video-sharing app owned by a Chinese company.

Her office said Friday that the country, which had previously sold from three Chinese companies, has invested 1.3% of its portfolio in emerging-market exchange-traded funds, with a third of it in China. Noem sent a letter to the CEO of The Vanguard Group requesting the creation of an alternative fund that does not involve investing in China.

“This will provide the state with an opportunity to safely invest dollars in state trust funds and pensions without being threatened by the CCP,” Noam wrote, referring to the CCP.

The governor is also asking the South Dakota Investment Council to come up with alternative investments.

U.S. President Joe Biden last year expanded the list of Chinese companies that U.S. investors can’t bring stakes into, citing their ties to the Chinese military and surveillance. Chinese officials vehemently opposed the move.

Source link

Leave a Reply

%d bloggers like this: