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Restrictions on Chinese Acquisitions of US Companies

New rules temporarily restrict acquisitions of US companies, especially those critical to national security, infrastructure, or media, by entities linked to the Chinese government. This aims to protect US interests, particularly concerning the impact of the COVID-19 pandemic and potential propaganda dissemination. Citizens may experience increased security in strategic sectors.
Key points
Prohibits Chinese entities from acquiring controlling interests in critical US companies (infrastructure, media, national security).
The President can waive the restriction only under specific conditions, such as the purchase price not being significantly affected by COVID-19 and no risk of propaganda.
These restrictions will remain in effect until the President determines the US has substantially recovered economically from the COVID-19 pandemic.
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Expired
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Additional Information
Print number: 117_HR_1092
Sponsor: Rep. Banks, Jim [R-IN-3]
Process start date: 2021-02-18
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Summarized by: gemini-2.5-flash-preview-05-20
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

To place temporary restrictions on acquisitions by the People's Republic of China, and for other purposes.

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 117_HR_1092.

Which chamber initiated this legislation?

This legislation was initiated in the House of Representatives.

When did the legislative process begin?

The process officially started on 2021-02-18.

What are the main provisions?

Key points include:

  • Prohibits Chinese entities from acquiring controlling interests in critical US companies (infrastructure, media, national security).
  • The President can waive the restriction only under specific conditions, such as the purchase price not being significantly affected by COVID-19 and no risk of propaganda.
  • These restrictions will remain in effect until the President determines the US has substantially recovered economically from the COVID-19 pandemic.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Rep. Banks, Jim [R-IN-3].

What is the latest detailed status?

The latest detailed status is: Referred to the Subcommittee on Consumer Protection and Commerce.

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-27.

CATEGORIES

Economy Security Media and Culture