WASHINGTON : A U.S. government committee on foreign investments reviewed a record number of proposed transactions in 2022, the Treasury Department said Monday.
Chinese investors filed 36 so-called"covered notices" seeking green lights for deals in 2022, compared with 44 in 2021 and 17 in 2020. Most foreigners seeking to take even non-controlling stakes in U.S. companies must seek approval from CFIUS, a powerful Treasury-led committee that reviews transactions for national security concerns and can block them.
In September 2022, U.S. President Joe Biden told CFIUS to sharpen its focus on threats to sensitive data, cyber security and areas such as microelectronics and artificial intelligence, and to more closely vet transactions that could affect U.S. leadership in biotechnology and quantum computing.