London Daily

Focus on the big picture.
Friday, Jun 20, 2025

Drop Chinese investments, MPs and peers tell parliament’s pension fund

Drop Chinese investments, MPs and peers tell parliament’s pension fund

Letter from 137 lawmakers urges fund to drop stakes in firms accused of human rights violations or linked to Chinese state
A cross-party group of more than 137 parliamentarians, including 117 MPs, have called on parliament’s pension fund to disinvest from Chinese companies accused of complicity in gross human rights violations or institutions linked to the Chinese state.

The signatories include Lisa Nandy, the shadow foreign secretary, and the former Conservative cabinet ministers Liam Fox, Iain Duncan Smith and Norman Tebbit. Others include the Liberal Democrat foreign affairs spokesperson, Layla Moran, and the shadow foreign affairs minister, Stephen Kinnock. The Conservative MP David Amess was also a signatory, one of his last political acts before his death on Friday.

The letter to the fund’s trustees follows research by the rights group Hong Kong Watch which found the Parliamentary Contributory Pension Fund had £2.9m invested in the Chinese e-commerce company Alibaba and £900,000 in technology group Tencent, as well as investments in China Construction Bank and Sinopec, the chemical and oil firm.

The letter states: “Aside from being two of the largest technology companies in China, Alibaba and Tencent regularly collaborate with the Chinese state in maintaining internet censorship through the ‘Great Firewall’ and have provided the government with surveillance patents for software which has been put to use against the Uyghurs.”

It underlined that as the “the largest bankroller of Chinese state-owned enterprises”, Chinese state-owned banks “have spent the last decade buying up a substantial amount of strategic infrastructure in the UK”.

Exposure to Chinese equities was problematic, the authors claim, “given the sanctions China has placed on UK parliamentarians”.

Five MPs were sanctioned in March by the Chinese state as a reprisal for the British government sanctioning a group of Chinese officials allegedly involved in the mistreatment of Uyghur Muslims.

The disinvestment call also comes after the Speakers of both the Lords and Commons banned the Chinese ambassador from entering parliament in September to speak to an all-party group. The Commons also voted in March to back a motion branding the Chinese state treatment of the Uyghurs in Xinjiang province as “genocide”.

A group of MPs’ staff have also written to Legal and General about the pension fund.

The Labour MP Siobhain McDonagh, a leading signatory and member of the Treasury select committee, said: “When the world is presented with such overwhelming evidence of gross human rights abuses, nobody can turn a blind eye.

“But we must also ask ourselves what it means to be complicit and that’s why I’m horrified to learn that our own pension fund is invested in Chinese institutions with close ties to the state. If we look on, history will condemn our unforgivable cowardice and ask why those in power did not act. Warm words are simply not enough because this time no one can say that they did not know.”

Sam Goodman, Hong Kong Watch’s senior policy adviser and co-author of the report, said: “If the drive toward ethical investment and making the UK a world leader in environmental and social governance is to mean anything, then MPs must ensure that their own pensions are not being invested in companies undermining human rights and look again at bringing forward legislation to regulate this sector.”
Newsletter

Related Articles

0:00
0:00
Close
16 Billion Login Credentials Leaked in Unprecedented Cybersecurity Breach
Senate hearing on who was 'really running' Biden White House kicks off
Iranian Military Officers Reportedly Seek Contact with Reza Pahlavi, Signal Intent to Defect
FBI and Senate Investigate Allegations of Chinese Plot to Influence the 2020 Election in Biden’s Favor Using Fake U.S. Driver’s Licenses
Vietnam Emerges as Luxury Yacht Destination for Ultra‑Rich
Plans to Sell Dutch Embassy in Bangkok Face Local Opposition
China's Iranian Oil Imports Face Disruption Amid Escalating Middle East Tensions
Trump's $5 Million 'Trump Card' Visa Program Draws Nearly 70,000 Applicants
DGCA Finds No Major Safety Concerns in Air India's Boeing 787 Fleet
Airlines Reroute Flights Amid Expanding Middle East Conflict Zones
Elon Musk's xAI Seeks $9.3 Billion in Funding Amid AI Expansion
Trump Demands Iran's Unconditional Surrender Amid Escalating Conflict
Israeli Airstrike Targets Iranian State TV in Central Tehran
President Trump is leaving the G7 summit early and has ordered the National Security Council to the Situation Room
Taiwan Imposes Export Ban on Chips to Huawei and SMIC
Israel has just announced plans to strike Tehran again, and in response, Trump has urged people to evacuate
Netanyahu Signals Potential Regime Change in Iran
Juncker Criticizes EU Inaction on Trump Tariffs
EU Proposes Ban on New Russian Gas Contracts
Analysts Warn Iran May Resort to Unconventional Warfare
Iranian Regime Faces Existential Threat Amid Conflict
Energy Infrastructure Becomes War Zone in Middle East
UK Home Secretary Apologizes Over Child Grooming Failures
Trump Organization Launches 5G Mobile Network and Golden Handset
Towcester Hosts 2025 English Greyhound Derby Amid Industry Scrutiny
Gary Oldman and David Beckham Knighted in King's Birthday Honours
Over 30,000 Lightning Strikes Recorded Across UK During Overnight Storms
Princess of Wales Returns to Public Duties at Trooping the Colour
Red Arrows Use Sustainable Fuel in Historic Trooping the Colour Flypast
Former Welsh First Minister Addresses Unionist Concerns Over Irish Language
Iran Signals Openness to Nuclear Negotiations Amid Ongoing Regional Tensions
France Bars Israeli Arms Companies from Paris Defense Expo
King Charles Leads Tribute to Air India Crash Victims at Trooping the Colour
Jack Pitchford Embarks on 200-Mile Walk to Support Stem Cell Charity
Surrey Hikers Take on Challenge of Climbing 11 Peaks in a Single Day
UK Deploys RAF Jets to Middle East Amid Israel-Iran Tensions
Two Skydivers Die in 'Tragic Accident' at Devon Airfield
Sainsbury's and Morrisons Accused of Displaying Prohibited Tobacco Ads
UK Launches National Inquiry into Grooming Gangs
Families Seek Closure After Air India Crash
Gold Emerges as Global Safe Haven Amid Uncertainty
Trump Reports $57 Million Earnings from Crypto Venture
Trump's Military Parade Sparks Concerns Over Authoritarianism
Nationwide 'No Kings' Protests Challenge Trump's Leadership
UK Deploys Jets to Middle East Amid Rising Tensions
Trump's Anti-War Stance Tested Amid Israel-Iran Conflict
Germany Holds First Veterans Celebration Since WWII
U.S. Health Secretary Dismisses CDC Vaccine Advisory Committee
Minnesota Lawmaker Melissa Hortman and Husband Killed in Targeted Attack; Senator John Hoffman and Wife Injured
Exiled Iranian Prince Reza Pahlavi Urges Overthrow of Khamenei Regime
×