Congressional investigation finds Wall Street used billions of dollars in U.S. retirement funds and other investments to buy shares in index funds that included several blacklisted Chinese companies did. The Wall Street Journal reported Thursday.
According to the report, the study was conducted by a bipartisan House committee with the mandate to develop a strategy for the United States to counter China, and was led by Larry Fink’s BlackRock, the world’s largest asset manager, and index provider MSCI. focused on.
BlackRock and MSCI did not immediately respond to Reuters’ requests for comment.
Relations between the United States and China, the world’s two largest economies, have been strained in recent years over issues such as Taiwan, the source of the coronavirus pandemic, spying allegations, human rights issues, and trade tariffs.
The House Select Committee on the Chinese Communist Party concluded that U.S. financial institutions funneled $6.5 billion into about 63 Chinese companies flying the U.S. flag last year through investments in index funds, according to a report. .
No comments were received from the committee.
