Biden di­rec­tive on screen­ing for­eign in­vest­ments in US biotech not tar­get­ed at Chi­na, ad­min of­fi­cials say

Pres­i­dent Joe Biden yes­ter­day signed a new ex­ec­u­tive or­der, large­ly cer­e­mo­ni­al in na­ture, but tar­get­ed and clear­ly draw­ing at­ten­tion to for­eign in­vest­ments in the US in the ar­eas of biotech and oth­er sen­si­tive tech like AI and semi­con­duc­tors.

At the heart of the di­rec­tive is the Com­mit­tee on For­eign In­vest­ment in the Unit­ed States (CFIUS), housed in the Trea­sury de­part­ment, which is au­tho­rized to re­view cer­tain sen­si­tive trans­ac­tions in­volv­ing for­eign in­vest­ment in the US, in­clud­ing re­al es­tate pur­chas­es, but has typ­i­cal­ly stayed with­in the bound­aries of De­fense-re­lat­ed com­pa­nies.

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