WASHINGTON—Heritage Action Executive Vice President Ryan Walker released the following statement Wednesday as Congress finalized the annual national defense bill and moves to consider a year-end spending package:
“Over the past decade, as much as $3 trillion or more of U.S. investment has flowed into China with little to no transparency or oversight. Even today, U.S. capital is being used to support China’s growing military capabilities and its technology ambitions. Ending this unregulated stream of investment remains the most urgent, essential national security priority Congress must tackle this year.
“Congress’ failure to advance outbound investment restrictions by the end of year would be a gift to the Chinese Communist Party. It’s past time for Congress to stand up to one of our largest adversaries. Unfortunately, this year’s annual defense bill omitted a long-negotiated bipartisan agreement between the committees of jurisdiction in the House and Senate to curb U.S. investment into Chinese military companies. Heritage Action is strongly advocating for this agreement to be included in the year-end spending package.”
Additional resources and background information on Heritage’s work on outbound investments can be found here:
The Heritage Foundation: Outbound Investments
The Heritage Foundation: The Truth About Investment in China
The Heritage Foundation: Congress Should Strengthen Treasury’s Investment Restrictions for China