Vivek Ramaswamy’s Business Ventures and Ties to China Scrutinized Amid Ohio Governor Run
Vivek Ramaswamy, a Republican candidate for Ohio governor, is under scrutiny for his past business dealings with entities connected to the Chinese Communist Party (CCP), even as he campaigns against China and communism.
In 2014, Ramaswamy established Roivant Sciences, a biotech firm specializing in drug development through its subsidiaries. He was the CEO until 2021.
One such subsidiary, Sinovant, was formed in Shanghai in 2017. It received funding from CITIC Private Equity (CITICPE), a firm linked to China’s state-owned enterprises, which are heavily influenced by the CCP.
State-owned entities in China might be fully or partially government-owned, and the CCP exerts its influence by determining economic priorities, leadership roles, and strategic aims.
At the time of Sinovant’s inception, CITICPE was part of CITIC Securities, itself an extension of the state-run CITIC Group.
In 2018, CITICPE separated from CITIC Securities to become CPE, maintaining ties through jointly managed funds, as noted by the Prague Security Studies Institute. Lieu Lefei, a key figure and CEO of CITICPE, is known as a “princeling,” a term used for descendants of high-ranking communist officials.
Liu Yunshan, Lefei’s father, was reportedly involved in online censorship related to the Uyghur ethnic cleansing.
In 2018, Ramaswamy partnered with CITICPE once more to create Cytovant Biotechnology, another Sinovant branch based in China.
A 2021 report from the Federal Communications Commission (FCC) raised concerns over national security regarding Pacific Networks and ComNet, subsidiaries of CITIC Group. This followed reports from 2017 about CITIC Group providing a $10 billion line of credit to Iran, a nation labeled by the U.S. as a terrorism sponsor.
Roivant sold its stake in Cytovant in July 2022. In 2023, Ramaswamy was recognized as the sixth-largest shareholder of Roivant, with a wealth estimation of $2.3 billion.
In a recent statement, Ramaswamy emphasized the importance of the 2026 Ohio governor race, calling it “probably the most important election for governor” in the state’s history and a potential triumph over communism and socialism.
Ramaswamy’s Democratic challenger is Amy Acton, the former Ohio Department of Health Director. The race remains competitive, with polls indicating a tight contest.
The post Ramaswamy has business ties to China’s Communist Party appeared first on American Journal News.
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