Major US financial institutions helped channel billions of dollars into Chinese companies blacklisted for their links to China’s military or alleged human rights abuses, Nikkei Asia reported.
A congressional committee investigation discovered that $6.5 billion was legally moved through index funds last year to 63 blacklisted Chinese companies or firms red-flagged by the US government, the story went on.
The investigation looked into the bigger financial industry but singled out aim BlackRock, the world’s largest asset manager, and MSCI, the major index provider.
Read the full story: Nikkei Asia
- By Sean O’Meara
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