California's state pension invested hundreds of millions of dollars in Chinese state-owned enterprises linked to the People's Liberation Army, according to records reviewed by the Washington Free Beacon.
The California Public Employees' Retirement System (CalPERS) had more than $3 billion invested in Chinese companies, including 14 state-controlled enterprises blacklisted by the Trump administration, as of June 2020. Many of these companies are funding the Belt and Road Initiative, a massive infrastructure project Beijing is using to expand its geopolitical and military influence.
Gov. Gavin Newsom (D., Calif.), who recently praised a Chinese-owned media company for its "journalistic integrity," has not commented on CalPERS's Chinese investments. It is a notable silence from the embattled governor, who has called on CalPERS, the country's largest public pension system, to divest from tobacco companies and companies linked to the Turkish government. Newsom faces a recall election on Sept. 14.
CalPERS had more than $450 million invested in 14 Chinese companies the Trump administration put on an investment blacklist last year because of their ties to the Chinese military. President Donald Trump's executive order, which the Biden administration has continued, prohibited Americans from investing in companies that aid the Chinese military.
read more here: https://freebeacon.com/national-security/californias-state-pension-invests-millions-in-chinese-state-owned-companies/
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