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South Dakota governor orders review of Chinese investments

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South Dakota governor orders review of Chinese investments
Image from SDLRC cablecast

SIOUX FALLS, S.D. (AP) — South Dakota Gov. Kristi Noem has called for a review of the state’s investments to determine if it has stakes in Chinese companies.

The Republican governor has taken aim at the state’s ties to China and claimed that they pose a national security threat. Last week, she banned TikTok, which is owned by Chinese company ByteDance, from being used on state-owned devices.

Noem’s office issued a statement saying she wants the South Dakota Investment Council, which oversees a $19 billion portfolio for the state’s pension fund and other trust funds, to review its investments for ties to Chinese companies within seven days.

Investment Council Member and State Treasurer, Josh Haeder, says any ties to China are minimal and he believes they can be eliminated.

 

December 9, 2022