Florida is now one of the few states divesting from Chinese-owned companies [Yahoo! Finance]
CHINA CONSTR BK UNSP/ADR (CICHY)
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Source: Yahoo! Finance
Florida Gov. Ron DeSantis signed legislation this week that will lead to the divestment of all Florida pension-fund investments in Chinese-owned companies, an extension of policies that state lawmakers have been making in recent years to show their disdain for the Chinese Communist Party. The law ( HB 7071 ) requires the State Board of Administration (SBA), the state organization responsible for investing the assets of the Florida Retirement System (FRS) Pension Plan and administering the FRS Investment Plan, to develop a plan by September 1 to begin divesting all direct holdings in Chinese companies. The measure requires that the SBA complete the divestment no later than September 1, 2025. The FRS' total exposure to Chinese state-owned entities is now estimated at around $223.8 million as of April 30, according to Steve Koncur, director of external affairs for the SBA. According to the bill's legislative analysis published on March 15, the FRS' single biggest investment with a
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