Pennsylvania SB380 mandates divestment of Chinese investments by state retirement systems.
The China Divestiture Act requires the State Treasurer, the State Employees' Retirement System, the Public School Employees' Retirement System, and the Pennsylvania Municipal Retirement System to divest from investments in Chinese companies and the Chinese government. The act defines "scrutinized companies" as those domiciled in or organized under Chinese law, including sanctioned Chinese companies. Public funds must sell, redeem, or divest direct holdings, indirect holdings, and alternative investments in these companies.
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