13 May '18, 10am

Foreign investment bill targeting #China heads for Senate panel vote

WASHINGTON (Reuters) - A bill aimed at tightening oversight of foreign investment in the United States because of concern about China’s acquisition of critical technology is headed for a vote this month in the U.S. Senate Banking Committee, the panel said on Friday. FILE PHOTO: The U.S. Capitol building is seen at sunset in Washington, U.S. May 17, 2017. REUTERS/Zach Gibson The committee also released draft proposals that will be voted on to amend the bill, which was introduced last November by Senator John Cornyn. Proposed changes to the measure appear aimed largely at blunting opposition from high tech companies and investment firms, which had worried that even innocuous transactions would be subject to extended reviews by the Committee on Foreign Investment in the United States, or CFIUS. CFIUS is an inter-agency panel led by the Treasury Department that assesses potent...

Full article: https://www.reuters.com/article/us-usa-cfius-congress/for...

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