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, who is seen as a potential contender for her party’s nomination to run for president in two years, 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.
See the press release by the Governor’s Office below.
PIERRE, S.D. – Today, Governor Kristi Noem called for an immediate review of all investments under the control of the South Dakota Investment Council in order to determine if taxpayer dollars are being invested in companies that pose a threat to our national security, like those in Communist China. She challenged the Investment Council to complete the review in 7 days.
“South Dakotans deserve to know if their taxpayer dollars are being invested to benefit the Chinese Communist Party,” said Governor Kristi Noem. “The Investment Council has ensured that South Dakota has the best-funded pension in the country. But it is not possible to make good deals with bad people. If this review shows that such investment is taking place, then the Investment Council should propose alternative investment options.”
Last week, Governor Noem signed an Executive Order banning TikTok for South Dakota state government.
This week, Governor Noem wrote in the Wall Street Journal, “Many American intelligence officials believe that the Chinese Communist Party poses the greatest threat to the U.S., and most American people agree. If [President] Biden won’t take this threat seriously, then Congress and state governments must fill the gap.”
