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Why Is California's Public Pension Fund Investing In Chinese Companies That Are Blacklisted By The U.S. Government?



The Hill: GOP lawmaker accuses California public pension fund of investing in blacklisted Chinese companies

Rep. Jim Banks (R-Ind.) on Thursday said that he has written a letter to California Gov. Gavin Newsom (D) to voice concerns over the state's public pension fund chief and his connections with China.

The Indiana congressman is calling out the California Public Employees' Retirement System (CalPERS), the largest state pension fund in the U.S., for allegedly investing in numerous select blacklisted Chinese companies that manufacture military products.

The California-based fund invested $3.1 billion into 172 different Chinese companies, Banks said in an appearance on Fox Business Network. He said that some of the companies invested in have been blacklisted by the U.S. government.

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WNU Editor: I guess it is OK now to invest in Chinese companies that are involved in China's arms and security industry

Update: The fund is defending its CIO and his investments .... CalPERS says call for probe into China holdings unwarranted (Pensions and Investments).

More News On California's Public Pension Fund Investing In Chinese Companies That Are Blacklisted By The U.S. Government

A U.S. Congressman Wants CalPERS CIO Ben Meng Fired -- Institutional Investor
Congressman Urges Firing of CalPERS CIO for Deep China Links, Investments -- Epoch Times
California public pension fund invested in blacklisted Chinese companies: congressman -- FOX News

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