U.S. pension funds, universities face pressure over China investments

Proposed legislation seeks to decouple huge pools of public money from Chinese market

20230630N Texas state capitol

The Texas State Capitol. Texas' public education employee pension fund has slashed its investment in Chinese equities. © Reuters

JACK STONE TRUITT, Nikkei staff writer

NEW YORK -- U.S. public pension plans and universities are facing pressure to divest their portfolios from China amid tensions between Washington and Beijing, with billions of dollars at stake.

Proposed federal and state legislation takes aim at public money being used toward investment into China over fears about national security and whether American dollars should go to a country the U.S. has deemed its primary strategic competitor.

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