Panel Calls for Restricting US Investment in Chinese Biotech
The congressionally mandated National Security Commission on Emerging Biotechnology recommended in a report this month that lawmakers pass legislation to prevent U.S. outbound investment from supporting China’s development of biotechnology that could harm national security.
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The House Financial Services Committee received a similar recommendation at a hearing in February (see 2502250032), and the White House has told agencies to consider such an idea (see 2502240051).
Also in its report, the commission urged Congress to direct the Commerce Department to consider blocking biotechnology exports to China that could be used for military purposes. The panel also encouraged lawmakers to give the Committee on Foreign Investment in the U.S. greater flexibility to focus its resources on screening the highest-risk investments in critical U.S. technology sectors.
The commission's recommendations are included in a wide-ranging report to Congress on bolstering U.S. leadership in biotechnology. Sen. Todd Young, R-Ind., chaired the panel.