According to a report released by the United States Committee on Foreign Direct Investment (CFIUS), Chinese investors had the most deals subject to Washington’s national security scrutiny in 2015. CFIUS reviews any merger or acquisition submitted to it which involves a foreign investor for any potential U.S. national security risk.
The report released earlier this month by the U.S. Treasury Department shows that China led Canada, and the U.K. with 29 deals subject to CFIUS review in 2015. Canada had 22; the U.K. had 19.
According to the report, China has consistently led other countries with the largest number of deals subject to the CFIUS review. Between 2013 and 2015, most of China’s deals to purchase U.S. Companies were in the manufacturing and finance/information technology sectors. Yet, Beijing is not focusing on what’s considered “critical U.S. technology.” In 2015, Canada purchased more U.S. critical technology according to the report.
The CFIUS report to congress comes after U.S. President Donald Trump blocked a deal allowing a Chinese equity firm to purchase an American semiconductor company.
This comes as the world’s two largest economies face increased trade frictions — and work to resolve the nuclear crisis on the Korean peninsula.
In 2015, Chinese windmill maker, Sany Group, won their lawsuit against the U.S. government.
The company sued CFIUS and President Barack Obama in 2012 for barring their wind farm project in Oregon.
“I suspect in the future if some companies, foreign companies, feel their rights infringed by the process, they can follow the road-map, laid down by this case,” Sany attorney Tim Xia told CGTN at the time.
Attorneys for the Ralls Corporation, a U.S. company affiliated with one of China’s largest machinery and equipment company the Sany Group, announced that they have settled their lawsuit against the U.S. government on Wednesday. The company sued the Committee on Foreign Investment in the United …