Politics

GOP Gov Orders State Agencies To Divest China Assets

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Abbott’s letter was aimed at preventing Texans from being exposed to the Chinese Communist Party (CCP), according to the statement. The governor called for the agencies to fully divest from China as soon as possible, citing financial risk and Chinese “aggression” against the U.S.

“Security of Texas and Texans is of utmost importance,” Abbott wrote. “That includes the financial security of Texas state investments. Threats to that security can come from foreign adversaries, including the Chinese Communist Party (CCP), whose belligerent actions across the Southeastern Pacific region and the world have increased instability and financial risk to the State holding investments in China. As Chinese aggression against the United States and its allies seems likely to continue, the financial risk associated with holding investments in China will also rise. Therefore, all investments of state funds in China must be evaluated and immediately addressed.”

“This is not the first time I have raised concerns about this looming threat,” Abbott added.

A House report released in October found that illegal immigration, espionage and other activities tied to the CCP have increased drastically under the Biden-Harris administration. The administration previously proposed rules aimed at stopping foreigners from buying land near U.S. military bases, but failed to prevent a battery manufacturer linked to the CCP from developing a facility near a National Guard base.

“I direct Texas investing entities that you are prohibited from making any new investments of state funds in China,” Abbott said. “To the extent you have any current investments in China, you are required to divest at the first available opportunity.”

When reached for comment, Abbott’s office referred the Daily Caller News Foundation to the press release issued Thursday.