North Dakota Bill Requires Divestment From Chinese-Owned Companies

BISMARCK, N.D. (KVRR) — North Dakota lawmakers are considering a bill that would divest money from the Legacy Fund away from Chinese-owned businesses.

If passed, the bill would also initiate a review of all Legacy Fund investments to determine which direct holdings include securities of any Chinese companies.

Indirect investments in Chinese-owned companies, such as through a mutual fund, would not be affected.

It would also require the state to develop a plan to divest at least 20 percent of the total value of Chinese investments held as of August 1, 2025, per year.

During a committee hearing, Republican Representative Bernie Satrom of Jamestown said that the state needs to make a stand against investing in countries that are considered bad actors.

“Some years ago I talked with a military guy. He said, ‘What are you working on?’ I said about this and he said, ‘Sounds like we are aiding and abetting the enemy,’ said Satrom.

Opposition to the bill came from the Retirement and Investment Office, the Legacy Fund Advisory Board, and State Treasurer Thomas Beadle.