West Virginia Gov. Patrick Morrisey
CHARLESTON – The West Virginia Investment Management Board has voted to divest from companies associated with the Chinese Community Party.
Earlier this year, the board approved a resolution from Gov. Patrick Morrisey to begin the divestment plan and to ban future investments in Chinese-owned or Chinese-controlled companies.
“The Chinese Communist Party is our biggest geopolitical foe and poses a national security risk to West Virginians and Americans,” Morrisey said after the September 24 board vote. “Thank you to the Investment Management Board for putting a plan in motion to carry out my requested resolution to divest from the CCP.
“By early 2026, West Virginia will no longer have investments in Chinese state-owned entities.”
Pack
Treasurer Larry Pack also supported the IMB vote. He also pushed for a similar policy with the West Virginia Board of Treasury Investments which was approved earlier this year.
“Just like President Donald Trump is working diligently to put American interests first, we must do our part to hold bad foreign actors accountable,” Pack said. “The board’s decision is a step in the right direction to ensure that we put our citizen’s interests first and do not put American dollars at risk. There is no reason for us to invest in a country that is working against our way of life and at the same time, divesting in China means investing more dollars in our great state. …
“Governor Patrick Morrisey followed our lead by proposing a similar policy for the IMB, ensuring our state’s long-term investments, including our state pensions, do not finance the People’s Republic of China. By standing strong against the Chinese Communist government, we can deliver real, lasting benefits to American workers, citizens, and businesses in West Virginia and beyond.”
The IMB manages the assets of the Defined Benefit Plans for Teachers, Deputy Sheriffs, Public Employees, State Police, Division of Public Safety, and Judges; along with the Workers’ Compensation Fund, the Coal Workers’ Pneumoconiosis Fund, the Wildlife Endowment Fund, several endowment funds, insurance plans and municipal plans. The board manages nearly $30 billion in long-term investments for the state. The BTI manages $10 billion in short-term state and local government operating funds.
