New Jersey A2658 prohibits state pension and annuity funds from investing in Chinese pharmaceutical companies.
New Jersey A2658 prohibits the state from investing pension and annuity funds in Chinese pharmaceutical companies. The bill defines a "Chinese pharmaceutical company" as one with its principal place of business in China, at least 51% owned and controlled by a Chinese citizen, civilian-run enterprise, or the Chinese state government. The State Investment Council must work with an independent research firm to identify and divest from any such investments within three years. The Director of the Division of Investment must report annually on the progress of divestiture.
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