Texas governor orders state agencies to divest China assets

SINGAPORE (Reuters) – Republican Governor of Texas Greg Abbott ordered state agencies to cease investing state funds in China and sell at the first available opportunity, citing financial and security risks.

“As Chinese aggression against the United States and its allies seems likely to continue, the financial risk associated with holding investments in China will also rise,” Abbott said in a letter to Texan state agencies dated Nov. 21 and posted to his website.

“I direct Texas investing entities that you are prohibited from making any new investments of state funds in China. To the extent you have any current investments in China, you are required to divest at the first available opportunity.”