Economic news
U.S. House panel chair seeks details on planned Chinese investment regulations
2023.05.25 13:25
© Reuters. FILE PHOTO: U.S. and Chinese flags are seen in this illustration taken, January 30, 2023. REUTERS/Dado Ruvic/Illustration/File Photo
WASHINGTON (Reuters) – The head of the House Financial Services Committee on Thursday asked the Biden administration for details about its outbound investment proposal, including why investment restrictions would be more effective than export controls or sanctions.
Republican U.S. Representative Patrick McHenry, whose panel has a wide remit over financial matters and is a key voice on potential investment restrictions on U.S. companies in China, called on U.S. Treasury Secretary Janet Yellen to provide more details ahead of her June 7 hearing appearance before the committee.
