U.S.-China panel says should ban China state firms from buying U.S. companies | Reuters - Firstpost
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U.S.-China panel says should ban China state firms from buying U.S. companies | Reuters

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WASHINGTON/BEIJING A U.S. congressional commission charged with monitoring security and trade links between the United States and China has recommended that CFIUS, the body that vets acquisitions from foreign firms, be required to block purchases from Chinese state-owned companies.In its annual report to the U.S. Congress, the U.S.-China Economic and Security Review Commission said on Wednesday the Chinese Communist Party has used state-owned enterprises (SOEs) as the primary economic tool to advance and achieve its national security objectives.

"The Commission recommends Congress amend the statute authorizing the Committee on Foreign Investment in the United States (CFIUS) to bar Chinese state-owned enterprises from acquiring or otherwise gaining effective control of U.S. companies," the report said.

(Reporting by David Lawder; Editing by Chizu Nomiyama)

This story has not been edited by Firstpost staff and is generated by auto-feed.

First Published On : Nov 16, 2016 22:30 IST

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