Some in Congress want to ban Chinese state-owned companies from buying American businesses

WASHINGTON (AP)Chinese investment in the United States keeps setting records, and now congressional advisers suggest barring Chinese state-owned companies from buying or gaining control of American businesses.The concern is such enterprises could use technology, intelligence and market power "in the service of the Chinese state"as those advisers put it. They note, for example, a growth in Chinese attempts to buy U.S. assets in the semi-conductor industry.The U.S.-China Economic and Security Review Commission is out with its latest annual report. The key recommendation is for Congress to change U.S. law so Chinese state-owned enterprises can be prevented "from acquiring or otherwise gaining effective control of U.S. companies."Chinese investment in the U.S. could reach $30 billion in 2016. About one-quarter of that investment is from state-owned companies.Join the conversation about this story
Click here to read full news..