Advertisement
US to expand scrutiny of property deals near military sites as China concerns grow
- Proposed US move would add more than 50 facilities to a list of areas under scrutiny
Reading Time:1 minute
Why you can trust SCMP
1
The United States plans to broaden oversight of foreigners’ property transactions on sites close to military installations, the Treasury Department said on Monday, as concerns involving Chinese land purchases grow.
Advertisement
“President Biden and I remain committed to using our strong investment screening tool to defend America’s national security, including actions that protect military installations from external threats,” Treasury Secretary Janet Yellen said in a statement.
Under a proposed rule, more than 50 facilities will be added to a list of sites where surrounding property transactions may be reviewed by the Committee on Foreign Investment in the United States (CFIUS) – taking the total figure to 227.
Advertisement
CFIUS’s jurisdiction covers land purchases as well.
The concern is that a foreigner’s purchase or lease of certain properties could allow them to collect intelligence or “expose national security activities” to foreign surveillance risks, the Treasury noted.
Advertisement