West Virginia Moves Taxpayers’ College Savings Away From ‘Risky Chinese Investments’

West Virginia will stop investing in companies based in China through its higher education savings investment plan, the state’s chief financial officer said. In an April 17 announcement, West Virginia Treasurer Riley Moore said his state will be transferring dollars from the plan, dubbed SMART529, into a fund that excludes investment in China-based companies. The plan is offered by the board of trustees of the West Virginia College and Jumpstart Savings Programs, where Mr. Moore serves as chairman. According to Mr. Moore, the decision was made following a “lengthy period of study” which found that shifting away from Chinese investments aligns with the best interests of families participating in the plan, who hope to ease the burden of college expenses for their children in the future....