WH to Tighten Foreign Direct Investment Rules Over Concerns of Chinese Tech Takeovers - FbiCables Network | The News that Shapes World Opinion

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Friday, January 26, 2018

WH to Tighten Foreign Direct Investment Rules Over Concerns of Chinese Tech Takeovers

FILE PHOTO: The U.S. Capitol Dome (L) building is pictured in Washington, DC, U.S. on October 4, 2013. REUTERS/Jonathan Ernst/File Photo
 
 The White House is set to tighten foreign investment controls amid concerns about Chinese efforts to buy U.S. technology companies.
The Trump administration said it supports bipartisan bills in Congress, which widen the government’s authority to stop foreign acquisitions of U.S. firms.
The bills would allow the Committee on Foreign Investment in the U.S. to examine and deny smaller foreign investments.
The legislation would also authorize the committee to consider national security factors in the investment approval process.
“A draft report prepared for DOD last year raised concerns about certain activities by Chinese firms in the U.S. that appear to be motivated by transferring innovative technologies to China with ultimate goal of giving China a competitive advantage,” explained Senator Bob Menendez.
The Senate Banking Committee is set to hold a hearing on the proposals sometime Thursday.

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