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US: Panel opposes China firms buying US Companies

By  |  November 17, 2016
US: Panel opposes China firms buying US Companies

According to a Reuters report Wednesday, a congressional panel charged with monitoring security and trade links between Washington and Beijing is urging US lawmakers to ban China’s state-owned firms from acquiring US companies.

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    The US-China Economic and Security Review Commission, in its annual report to Congress Wednesday, accused the Chinese Communist Party of using state-backed enterprises as the primary economic tool to advance and achieve its national security objectives, Reuters noted.

    “The Commission recommends Congress amend the statute authorizing the Committee on Foreign Investment in the United States to bar Chinese state-owned enterprises from acquiring or otherwise gaining effective control of US companies,” the report said.

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