Amid tensions with China, some US states are purging Chinese companies from their investments

Associated Press

JEFFERSON CITY, Mo. (AP) — Some U.S. states are scrapping investments in Chinese companies amid tensions between countries with the world’s largest economies. Indiana, Florida and Missouri all have taken actions requiring their public retirement systems to divest from certain Chinese companies. A similar measure was vetoed this year in Arizona. The National Association of State Retirement Administrators opposes state-mandated divestments, saying such policies should be left to the federal government. But this isn’t the first time states have taken such actions. Many states previously divested from South Africa because of apartheid. Some states have divested from tobacco companies and from Russia because of its war against Ukraine.