Texas Gov. Abbott orders state agencies to divest from China [FOX Business Network]
TENCENT HLDGS UNSP/ADR (TCEHY)
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Source: FOX Business Network
Texas Gov. Greg Abbott has ordered all agencies in the state to stop investing in China and to sell off any holdings as soon as possible, citing financial and security risks. In a letter dated Nov. 21, Abbott said "belligerent actions" of the Chinese Communist Party (CCP) "across the Southeastern Pacific region and the world" had increased risks to Texas' investments in China, and told investors to get out. "I direct Texas investing entities that you are prohibited from making any new investments of state funds in China ," the Republican wrote. "To the extent you have any current investments in China, you are required to divest at the first available opportunity." The state of Texas has been taking an increasingly activist stance in its agencies' investments, having previously restricted public pension funds from doing business with Wall Street firms that have embraced environmental, social and governance principles. Its state agencies include the Teacher Retirement System of
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