Vivek Ramaswamy’s China Ties and Ohio Governor Race Controversy

Vivek Ramaswamy’s Business Ventures and Chinese Connections

Vivek Ramaswamy, a Republican candidate for Ohio governor, has previously engaged in business activities with firms linked to the Chinese Communist Party, despite now campaigning against China and communism.

Ramaswamy established Roivant Sciences, a biotechnology firm, in 2014 and remained CEO until 2021. The company is involved in drug development through various subsidiaries.

Among the subsidiaries is Sinovant, based in Shanghai and created in 2017. Funding for Sinovant came partly from CITIC Private Equity (CITICPE), which is associated with China’s state-owned enterprises under Communist Party influence.

State-owned entities in China may be wholly or partly government-owned, and the Chinese Communist Party often directs these entities by setting economic priorities, appointing leaders, and determining strategic directions.

During Sinovant’s inception, CITICPE operated as the investment division of CITIC Securities, linked to the state-owned CITIC Group.

Although CITICPE separated from CITIC Securities in 2018 to become CPE, connections persisted through shared investment funds, as noted by the Prague Security Studies Institute. CITICPE’s CEO, Lieu Lefei, is known as a “princeling,” a term for the offspring of high-ranking communist officials.

Lefei’s father, Liu Yunshan, was reportedly linked to online censorship regarding the Uyghur ethnic cleansing.

In 2018, Ramaswamy collaborated with CITICPE again to establish Cytovant Biotechnology, another China-based Sinovant subsidiary.

A 2021 Federal Communications Commission (FCC) report highlighted national security issues with Pacific Networks and ComNet, subsidiaries of CITIC Group. Earlier, in 2017, reports indicated CITIC Group provided a $10 billion credit line to Iran, which the U.S. identifies as a terrorism-supporting state.

Roivant sold its stake in Cytovant in July 2022. As of 2023, Ramaswamy remains the sixth-largest Roivant shareholder, with a net worth estimated at $2.3 billion.

Recently, Ramaswamy stated that his 2026 gubernatorial race is “probably the most important election for governor” Ohio has seen, emphasizing that a win would represent “success over communism, success over socialism.”

His Democratic opponent in the race is former Ohio Department of Health Director Amy Acton, with current polls indicating a close contest.