The US House of Representatives’ China committee has accused BlackRock and MSCI of profiting from investments that help the Chinese military and undermine American values and security.
In letters to BlackRock chief executive Larry Fink and MSCI head Henry Fernández, the top Republican and Democrat on the panel said the firms’ decisions meant American investors in their funds were “unwittingly funding” Chinese companies that develop weapons for the People’s Liberation Army.
“It is unconscionable for any US company to profit from investments that fuel the military advancement of America’s foremost foreign adversary and facilitate human rights abuses,” the Republican chair Mike Gallagher and top Democrat Raja Krishnamoorthi wrote.
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