The eight-term Member of the House of Representatives is a member of the Permanent Sub Committee on Intelligence, and the Committee on Energy and Commerce. He also sits on the Defense Intelligence and Warfighter Support subcommittee.
Despite holding these critical national security positions, Rep. Welch (D-VT) has purchased shares in companies owned by America’s most dangerous adversary: the Chinese Communist Party.
Mao Jones Industrial.
Congressman Welch’s most recent financial disclosure (published in full, below) reveals on March 15th, 2019 he purchased shares of a value up to $15,000 in two exchange-traded funds (ETF): KraneShares Bosera MSCI China A ETF and KraneShares CSI China Internet ETF.
The 2020 disclosure also reveals he received dividends from both funds.
The KraneShares MSCI ETF is “co-managed by Bosera Asset Management,” a Chinese Communist Party-linked investment firm that manages part of the country’s National Social Security Fund. At the time of publication, the fund’s primary investments include state-owned companies such Kweichow Moutai and Wuliangye Yibin. Competitors to American companies, such as China’s top electric vehicle battery maker Contemporary Amperex Technology Co Ltd (CATL), also make up the ETF.
Companies comprising Welch’s other Chinese government-linked investment – KraneShares CSI ETF – include Chinese social media and technology platforms that routinely censor users on behalf of the Chinese Communist Party. Tencent, which has been flagged by the U.S. State Department as a “tool of the Chinese government,” accounts for the largest investment of the fund.