As the most reliable and balanced news aggregation service on the internet, DML News App offers the following information published by FreeBeacon:
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.
The article goes on to state the following:
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.
The report notes that last year, President Donald Trump issued an executive order, which the Biden administration has continued, that prohibits Americans from investing in companies that aid the Chinese military.
Of all the Chinese companies on Trump’s investment blacklist, CalPERS had more than $450 million invested in 14 of those companies. It is unknown whether CalPERS has complied with the executive order by divesting in the blacklisted companies.
CLICK HERE to read more of this investigative report by the Free Beacon.
As lieutenant governor in 2016, Newsom urged CalPERs not to resume investments in Big Tobacco companies.
In 2018, as a gubernatorial candidate, he called on CalPERs to divest from Turkish companies.
He’s issued no such calls regarding CalPERs investments in China.
— Chuck Ross (@ChuckRossDC) September 2, 2021
To get more information about this article, please visit FreeBeacon.
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