U.S. pension funds took positions in blacklisted Chinese surveillance company

BOSTON - Some of the biggest public pensions funds in the United States have invested in one of the world’s largest purveyors of video surveillance systems that the U.S. government claims are used in wide-scale repression of the Muslim population of western China.

The blacklist applies to Hikvision and seven other companies because they allegedly enabled the crackdown that has led to mass arbitrary detentions in the Xinjiang region. The New York State Teachers Retirement System also owned Hikvision, reporting 81,802 shares at the end of June, up from 26,402 shares at the end of 2018, fund disclosures show.

In August, Hikvision had been banned from selling to U.S. federal agencies because the government said its products could allow access to sensitive systems. Another major fund investing in Hikvision shares is the Florida Retirement System , with 1.8 million shares at the end of June. Beijing denies any mistreatment of people at the camps, which it says provide vocational training to help stamp out religious extremism and teach new work skills.

THANKS Reuters!

Of course.😏

South Africa South Africa Latest News, South Africa South Africa Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

What to watch in third quarter earnings from U.S. companiesU.S. companies are preparing to report third-quarter results following a rocky f... 👍🇨🇦 Ready to be shocked ? This won’t be pretty,America is in a recession right now,this week will prove it and remember these companies have fudged the numbers to make it look better than it really is.The Trump economy.
Source: Reuters - 🏆 2. / 97 Read more »