Ramaswamy’s Business Links to China’s Communist Party

Vivek Ramaswamy, Ohio governor candidate, previously did business with entities linked to the Chinese Communist Party. Formerly CEO of Roivant Sciences, he now opposes China and communism in his campaign.

Key Points

• Vivek Ramaswamy, former CEO of Roivant Sciences, is running for Ohio governor as an opponent of China and communism. Roivant, which he founded in 2014, developed medicines through subsidiaries, including Sinovant, a Shanghai-based entity launched in 2017.

• Sinovant was partly financed by CITIC Private Equity, linked to Chinese state-owned enterprises. CITICPE remained connected to its original parent, CITIC Group, via investment funds, despite becoming independent in 2018. Ramaswamy collaborated with CITICPE again in 2018 to establish Cytovant Biotechnology.

• Despite divesting from Cytovant in 2022, Ramaswamy retained significant shares in Roivant. He claims his 2026 gubernatorial race is crucial for defeating communism and socialism. His Democratic opponent, former Ohio Health Director Amy Acton, faces a competitive contest, according to recent polls.

Vivek Ramaswamy, a Republican candidate for Ohio governor, has drawn attention due to his prior business engagements with entities linked to the Chinese Communist Party. Despite now positioning himself as an opponent of China and communism, Ramaswamy’s business history reveals a complex relationship with Chinese state-affiliated firms. He founded Roivant Sciences, a biotechnology company, in 2014 and led it as CEO until 2021. Under Roivant, a subsidiary named Sinovant was established in Shanghai in 2017. This venture was partially financed by CITIC Private Equity (CITICPE), an investment entity under the influence of the Chinese Communist Party through state-owned enterprises.

The intricacies of CITICPE’s connections underscore the entanglement between business and politics in China. State-owned entities like CITIC Group, from which CITICPE originated, are significantly influenced by the Chinese government, which appoints leaders and sets strategic goals. Even after CITICPE rebranded as CPE in 2018, it retained ties with CITIC through co-managed funds and leadership under Lieu Lefei, whose father was involved in state censorship efforts, particularly concerning sensitive topics like the Uyghur ethnic cleansing.

In 2018, Ramaswamy collaborated with CITICPE once more to form Cytovant Biotechnology, another China-based subsidiary. These associations have raised broader security concerns, as reflected in a 2021 Federal Communications Commission report highlighting risks linked to CITIC Group’s subsidiaries. Additionally, past reports reveal CITIC Group’s financial dealings with Iran, a nation labeled by the U.S. as a terrorism sponsor.

Roivant divested from Cytovant in 2022, though Ramaswamy remains a significant shareholder in Roivant. As he campaigns for governor, Ramaswamy advocates a strong stance against communism, promising a transformative victory if elected. The race against Democrat Amy Acton, former Director of the Ohio Department of Health, remains competitive, with polling indicating a tight contest.

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