Indiana officials stated this week that the state has completely withdrawn all public funds from Chinese enterprises.
A 2023 law, SEA 268, made Indiana the first—and still one of only five in the country — to require all public pension funds to divest from any Chinese-based or Chinese-controlled enterprise.
The legislation’s author, Sen. Chris Garten (R-Charlestown), cited rising tensions between the United States and China as a motive for the measure.
“Removing the possibility of China freezing U.S. assets and harming public employees is simply good policy,” Garten told reporters.
Indiana had more than $1 billion invested in Chinese companies when the measure unanimously passed. The measure gave the state five years to fully divest, but the Indiana Public Retirement System completed it in just over a year.