Marco Rubio, Mike Waltz demand Florida dump China pension stake
Should Florida invest in Chinese assets?

China's President Xi Jinping
Some retirements ride on Chinese Communist oppression.

State employees may be surprised to know that parts of their pensions are tied to investments in Communist China.

For Sen. Marco Rubio and U.S. Rep. Michael Waltz, the matter is alarming, and the two federal legislators demand Florida divest from its stake in red China.

On Tuesday, the two Republicans wrote Florida Gov. Ron DeSantis, Attorney General Ashley Moody and Chief Financial Officer Jimmy Patronis with a singular demand: that the Florida State Board of Administration stop investing state employees’ pensions in China.

“Unfortunately, like many public systems, FRS maintains investments in problematic Chinese enterprises, including firms owned and controlled by the Chinese Government and the Chinese Communist Party (CCP) that actively participate in human rights abuse and support the People’s Liberation Army (PLA),” they wrote.

Among those investments are surveillance equipment used by the Chinese Communist Party, in a way that almost certainly controverts American national interest.

“Florida’s hardworking civil servants may not suspect that their publicly administered or managed retirement account invests in firms owned or controlled by the Government of China or the CCP,”Waltz and Rubio added.

“The reality is, however, that the FRS holds investments in a variety of such companies. One such example is Hangzhou Hikvision Digital Technology Co., Ltd., a manufacturer of surveillance equipment used by the CCP to suppress religious and national minorities in Xinjiang and Tibet.

“Another, China Unicom Hong Kong Ltd., is a subsidiary of state-owned telecommunications operator China United Network Communications (China Unicom), which contracts with the PLA,” the letter adds.

“It is of great concern to us that Florida public employees are often unwittingly investing in funds that hold stock of Chinese companies with direct affiliation to the CCP and the PLA, and we anticipate that it will be [of great concern] to all Floridians,” the letter continues.

The letter was also copied to Senate President Bill Galvano and the incoming President Wilton Simpson. Additionally, House Speaker Jose Oliva and incoming Speaker Chris Sprowls received copies.

A.G. Gancarski

A.G. Gancarski has written for FloridaPolitics.com since 2014. He is based in Northeast Florida. He can be reached at [email protected] or on Twitter: @AGGancarski


4 comments

  • Frankie M.

    May 20, 2020 at 10:53 am

    I know Ricky and co. have a hard on for Chiner right now but would FRS pensioners really be better off resting on the whims of an egomaniac in the White House? Or is this the whole “the devil you know” argument again?

  • Frankie M.

    May 20, 2020 at 10:59 am

    Oh you think we’re so innocent? Maybe we should invest in some good ol’ USA drone technology?

    “The reality is, however, that the FRS holds investments in a variety of such companies. One such example is Hangzhou Hikvision Digital Technology Co., Ltd., a manufacturer of surveillance equipment used by the CCP to suppress religious and national minorities in Xinjiang and Tibet.

    I love how rubio acts like this is some surprising new discovery. “Unwittingly”….???…hell I’m counting on it. I already know who butters my bread. I for one welcome our new CCP overlords with open arms as long as it keeps me off Florida’s welfare rolls. I’ve already seen that movie.

    “It is of great concern to us that Florida public employees are often unwittingly investing in funds that hold stock of Chinese companies with direct affiliation to the CCP and the PLA, and we anticipate that it will be [of great concern] to all Floridians,”

  • Willie

    May 21, 2020 at 5:27 am

    Your investment money is being used to build electronic equipment and drones to spy on America. If they defeat us you will not get the money anyway because nobody pays a loser, nobody.
    It was stupid to invest in a country that was trying to supplant us and this is what happens when you lose your way and make money your God, you end up going to or through hell. Well here we are. Thanks Florida

  • Do Your Job Marco

    May 21, 2020 at 10:47 am

    States are not allowed to make foreign policy. Rubio knows this. A bi-partisan bill just passed Congress that requires foreign companies listed on US stock exchanges (this means China owned companies people) to submit to US audit requirements, otherwise be delisted from the exchange. Why doesn’t Rubio push to get the rest of these companies on OFAC lists, which would prevent anyone from investing in them? Why is Rubio wanting states to do HIS foreign policy work?

Comments are closed.


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