Dem Congressman Who Pushed China Divestment Kept His Own Chinese Investments

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A Democratic congressman who pushed for U.S. divestment from China failed to get rid of his own investments in the authoritarian country.

Rep. Vicente Gonzalez (D., Texas) introduced a bill in September to "reduce America’s dependence on China" by supporting domestic production of rare earth minerals, key resources for advanced electronics that China has a global monopoly on. But even as Gonzalez urged Americans to distance themselves from China, the congressman held up to $50,000 in shares of HSBC—the Hong Kong Shanghai Banking Corporation—and kept up to $100,000 in a HSBC bank account, according to his 2020 financial disclosures.

"Ending our dependence on China starts today," Gonzalez said in a press release accompanying the bill. "The RARE Act will allow the United States to develop a reliable domestic supply of critical minerals and rare earth elements and eliminate this pressure point that could have lasting impacts on our national security and most importantly, our way of life."
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