U.S. lawmakers to propose legislation seeking more scrutiny of Chinese real estate purchases

News Snapshot:

Two U.S. lawmakers are set to introduce legislation on Thursday to significantly expand government foreign investment reviews of real estate purchases by buyers from China and other foreign countries posing national security concerns. Representative Elissa Slotkin, a Democrat, and Republican Blake Moore are proposing to expand the authority of the Committee on Foreign Investment in the United States (CFIUS) over foreign real estate purchases. “We need to have official national security experts review these land purchases with clear-eyed expertise, and without fear or favour,” Slotkin said. Congress in 2018 passed legislation to expand CFIUS oversight to explicitly include real estate...