Governor Ron DeSantis Takes Action Against Communist China and Woke Corporations

Press release from the Office of Governor Ron DeSantis

Today, Governor Ron DeSantis held a meeting of the State Board of Administration where he, CFO Jimmy Patronis, and Attorney General Ashley Moody moved to revoke all proxy voting authority that has been given to outside fund managers, to clarify the state’s expectation that all fund managers should act solely in the financial interest of the state’s funds, and to conduct a survey of all of the investments of the Florida Retirement System to determine how many assets the state has in Chinese companies. 

“If you look at how these major companies behave when faced with Chinese disapproval, they censor what the CCP tells them to censor and we see groveling apologies,” said Governor Ron DeSantis. “Go back a generation, and the idea of the American elites was, ‘If we allow China into the WTO and give them most favored nation status, that will make China more like us.’ This experiment has failed, and it has endangered our nation’s national and economic security. 

“I would like the SBA to survey the investments that are currently being done. When the legislature comes back, they can make statutory changes to say that the Communist Party of China is not a vehicle that we want to be entangled with. I think that that would be something that would be very, very prudent. I also think that our country as a whole but certainly Florida would like to see more production and manufacturing re-shored, and we would be a great place to do that.” 

By retaking control of the state pension fund’s proxy voting from outside fund managers who may pursue social ideologies inconsistent with the state’s values or the financial interests of the state’s investments, and by determining the state’s exposure to Chinese investments, the actions taken today will further strengthen Florida’s fiscal footing and signal to those in corporate America who prop up a genocidal, authoritarian, imperialist regime that they will not do so with Floridians’ money.

“For far too long, the communist regime in China has attempted to infiltrate our financial and educational institutions,” said Lieutenant Governor Jeanette Nuñez. “I applaud Governor DeSantis’ efforts that will curb China’s investment in industries critical to our national security and protect Floridians from the dangers posed by the Chinese Communist Party.“ 

“I appreciate Governor DeSantis’ asserting our seat at the table when it comes to how SBA, and its fund managers, decide on investments,” said Chief Financial Officer Jimmy Patronis. “A sad reality is that too many federal leaders for too long have been missing-in-action when it has come to holding China accountable. As Americans got our cheap goods, the Chinese government wasn’t playing by the rules when it came to intellectual property or trade. Meanwhile, they’ve been busy buying influence in Hollywood and Washington. Unfortunately, between COVID and the supply chain issues, we’ve seen how reliant our country has become on China. I take my fiduciary responsibilities seriously, and I think the SBA needs to start asking harder questions when it comes to whether investing any more in China is a good idea. It seems limiting our exposure to China is not only good for our country, but it is the financially prudent thing to do for our state.”

“Chinese government control and influence over businesses operating in China should be a source of concern for anyone investing there,” said Attorney General Ashley Moody. “As fiduciaries, we should understand these risks and ensure they are being evaluated by the Florida Retirement System.” 

The votes taken today by the Board of Administration build upon Governor DeSantis’ actions earlier this year to combat woke corporate ideology and malign foreign influence. In August, Governor DeSantis placed Ben & Jerry’s parent company Unilever on the state’s List of Scrutinized Companies that Boycott Israel following the company’s announcement that it would remove its products and prohibit the sale of its ice cream in Judea and Samaria. Read more here

In June, Governor DeSantis signed groundbreaking legislation that protects Florida’s higher education institutions and government from foreign influence and combats corporate espionage. Read more here

A video of the State Board of Administration meeting is available here

  • Thank God for our Governor. While Brandon and the Dems turn a blind eye to the Chicoms and in fact help them we have a Governor that believes in America First. Our country needs to wake up to what’s going on.

  • Biden and son Hunter are totally conflicted with China due to their corruption that netted them and China Joe’s brother millions. That’s why he refuses to answer questions about anything to do with China, just smiles and walks off. Those that support this nut like the Gainesville city commission need voted out asap. No more China or drunken sailor spending! Throw the bums out.

  • I am proud that he’s our Governor, and for all he has done for the fortunate citizens of Florida. Many of our friends and family in other states reflect this same appreciation, and only wish he was their Governor.

  • And the elephant in the room is that the world is
    Using CCP protocol with the paper masks, quarantines, contact tracing, quarantines, & mRNA shots in a war
    Against the invisible Chinese enemy…what’s the endgame? Global totalitarianism. Papers pleeeze!
    They ruined the dollar & our economy with the
    “Big lie” for something that has a 99.9% global
    survival rate….oh! People are dying! The hospitals will
    Be over-run!! The face mask is worn by communists,
    Hypochondriacs, antifa, criminals, BLM, & Marxist
    Politicians. Omicron shmomicron!…
    Shwab from the IMF said “the pandemic was the perfect cover to implement the great reset”…quarantines resulted
    In a 7% reduction in CO2 emissions and they’d like to
    Lock you down until 2030 to stop climate change. The
    United Nations’ “new world order” is about
    Control, our submission to it, the ruining of our dollar
    & economy , and the destruction of the US constitution.
    They want to take away the guns and micro chip you…
    What’s the truth? China called pandemic to stop Hong
    Kong protesters who were breaking facial recognition cameras…the looney trump hating left took the “commie ball”
    And ran with it is how we are in the mess we are in now.
    Print money and inflation…ashes ashes all fall down.

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