{"id":2224446,"date":"2024-04-18T16:25:02","date_gmt":"2024-04-18T20:25:02","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/red-state-takes-new-step-to-distance-itself-from-risky-chinese-investments\/"},"modified":"2024-04-18T16:27:48","modified_gmt":"2024-04-18T20:27:48","slug":"red-state-takes-new-step-to-distance-itself-from-risky-chinese-investments","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/red-state-takes-new-step-to-distance-itself-from-risky-chinese-investments\/","title":{"rendered":"Red State&#8217;s Latest Move Away From &#8216;High-Risk Chinese Investments"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"float:left\"><div class=\"counts mashsbcount\">18<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fred-state-takes-new-step-to-distance-itself-from-risky-chinese-investments%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=2224446&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p>West Virginia&#8217;s State Treasurer, Riley Moore, announced that the state will no\u200c longer invest in Chinese-based \u2062companies through its SMART529 program. This change aims\u200d to maximize returns and reduce risks related to Chinese investments. The decision came after careful consideration\u200b due\u2063 to potential regulatory and geopolitical \u2064risks associated with \u200dChinese investments.\u200b Moore emphasized the importance of acting\u200b in\u200c the best financial interests of SMART529 plan participants.  <\/p>\n<p class=\"readmore\">\n    <button onclick=\"showReadMore()\" id=\"readmorebtn\">Read more&#8230;<\/button>\n<\/p>\n<hr id=\"line\">\n<span id=\"more\"><\/p>\n<p><span style=\"font-weight: 400\"><a href=\"https:\/\/www.dailywire.com\/topic\/west-virginia\" target=\"_blank\" rel=\"noopener\">West Virginia<\/a> will no longer be investing money in Chinese-based companies through its higher education savings <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/rick-santorum-its-time-to-invest-in-real-infrastructure\/\" title=\"Rick Santorum: It's Time to Invest in Real Infrastructure\">investment program<\/a>, according to Republican State Treasurer Riley Moore.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Moore <a href=\"https:\/\/wvtreasury.com\/About-The-Office\/Press-Releases\/ID\/612\/Treasurer-Moore-Announces-SMART529-Board-Votes-to-Drop-China-Investments-from-Select-Plan-Emerging-Markets-Portfolio\" target=\"_blank\" rel=\"noopener\">announced<\/a> Wednesday that the state would be designating dollars from the investment program, known as SMART529, into a fund that wouldn\u2019t back Chinese-based companies. The previous fund included investments in Chinese companies through an <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/how-u-s-investors-may-have-exposure-to-russian-stocks\/\" title=\"How U.S. Investors May Have Exposure to Russian Stocks\">emerging markets fund<\/a>.<\/span><\/p>\n<p><span style=\"font-weight: 400\">\u201cWe have a fiduciary duty to act in the best financial interests of SMART529 plan participants, and we believe excluding Chinese emerging market investments from our Select Plan portfolio will help maximize returns while reducing exposure to the potential regulatory and geopolitical risks that come with investing in companies based in China,\u201d Moore said. \u201cI\u2019m grateful to the Board members for carefully considering this recommendation to reduce exposure to these more risky Chinese investment options.\u201d<\/span><\/p>\n<p><span style=\"font-weight: 400\">Under the former <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/citing-china-threat-business-groups-experts-push-biden-administration-for-digital-policy\/\" title=\"Citing China Threat, Business Groups, Experts Push Biden Administration for Digital Policy\">investment plan<\/a>, Chinese companies could be qualified for some of the $40 million SMART529 dollars that were invested in emerging markets. Moore said the decision to shift investments away from China came after a \u201clengthy period of study\u201d showed that keeping investment in China was risky. He began looking at the move in late 2021.<\/span><\/p>\n<p><span style=\"font-weight: 400\">\u201cThis decision is in the best <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/entrepreneur-behind-anti-woke-asset-management-fund-celebrates-blackrock-ending-support-for-certain-climate-change-proposals-that-micromanage-its-portfolio-companies\/\" title=\"Entrepreneur Behind Anti-Woke Asset Management Fund Celebrates BlackRock Ending Support For Certain Climate Change Proposals That \u2018Micromanage\u2019 Its Portfolio Companies\">long-term financial interests<\/a> of those individuals who choose to invest in a SMART529 Select Plan and the children whose educational future benefits from these funds,\u201d he said.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Moore had investment consultant company NEPC create a research report for him on potential risks from partnering with Chinese companies.<\/span><\/p>\n<p><span style=\"font-weight: 400\">\u201cChina\u2019s domestic policies can create periods of heightened volatility and it is possible that ongoing tensions could increase and negatively impact Chinese stocks,\u201d NEPC told the West Virginia board that oversees the state\u2019s college funding programs.<\/span><\/p>\n<p><b><a href=\"https:\/\/onelink.to\/dwapp\" target=\"_blank\" rel=\"noopener noreferrer\" aria-describedby=\"sk-tooltip-9096\" data-saferedirecturl=\"https:\/\/www.google.com\/url?q=https:\/\/onelink.to\/dwapp&#038;source=gmail&#038;ust=1712932862202000&#038;usg=AOvVaw0plT8RRdMy9XUpIhocnjQS\">CLICK HERE TO GET THE DAILYWIRE+ APP<\/a><\/b><\/p>\n<p><span style=\"font-weight: 400\">State Armor, a group dedicated to <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/new-group-seeks-to-recruit-states-to-fight-chinese-communist-influence-it-must-end\/\" title=\"New group aims to rally states against Chinese Communist influence: 'It must stop\">fighting national security threats<\/a> on the state level, praised the decision.<\/span><\/p>\n<p><span style=\"font-weight: 400\">\u201cExcluding Chinese investments will reduce American funding of our greatest adversary, and protect participants from China\u2019s volatile economy,\u201d said Michael Lucci, the group\u2019s CEO. \u201cMore states should look to West Virginia\u2019s example and examine their own investment portfolios.\u201d<\/span><\/p>\n<p><span style=\"font-weight: 400\">\u201cState leaders must take immediate action to protect their education systems, which includes divesting from adversaries, reviewing and canceling gifts and contracts from adversaries, and generally cutting adversary government influence on American campuses,\u201d Lucci added. <\/span><\/p>\n<p><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>West Virginia&#8217;s State Treasurer, Riley Moore, declared that the state will exclude Chinese-based companies from its higher education savings investment program, SMART529. Investments that used to support these companies will now be redirected to a different fund. This move aims to steer clear of risky Chinese investments, as announced by Moore on Wednesday<\/p>\n","protected":false},"author":200,"featured_media":2224447,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/dw-wp-production.imgix.net\/2024\/04\/GettyImages-1319228121-scaled.jpg","fifu_image_alt":"","footnotes":""},"categories":[541],"tags":[],"class_list":["post-2224446","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-the-daily-wire"],"fifu_image_url":"https:\/\/dw-wp-production.imgix.net\/2024\/04\/GettyImages-1319228121-scaled.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2224446","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/200"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=2224446"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2224446\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2224447"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=2224446"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=2224446"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=2224446"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}