Monday, October 16, 2023
By now it is well known that the Chinese Communist Party has been working against American interests.
This is why the General Assembly unanimously passed a new law this year that requires the Indiana Public Retirement System (INPRS) to divest from Chinese entities.
Senate Enrolled Act 268 prohibits INPRS from investing in companies controlled or supported by the Chinese Communist Party and instructs the state to be completely divested from these companies within five years.
According to recent reports, INPRS identified more than 480 investments needing to be divested in March. In July, however, this number was reduced to just 40 holdings. Senate Republicans are pleased INPRS is working ahead of schedule on this important initiative.
Any Hoosier financial support to China hurts American interests and security. Recently, the U.S. Department of State told a Congressional panel that Chinese-backed hackers had stolen 60,000 emails from the department.
According to a 2019 report by the FBI, China leads the world in theft of intellectual property – which costs the U.S. economy up to $600 billion annually.
In 2022, the United Nations released a report which found China has committed crimes against humanity including alleged torture, sexual violence, forced labor and enforced disappearances.
This track record of misconduct showcases why Indiana took the steps to divest from China.
For more information on SEA 268, click here.
