US panel backs takeover ban for Chinese state-owned firms

With Washington heading in more hawkish direction, China must respond by opening up state companies to private investment, analysts say

A top US congressional panel has called on Washington to ban Chinese state-owned firms from taking over US companies, citing national security concerns.

The recommendation in a report on Wednesday from the US-China Economic and Security Review Commission comes amid intense speculation about US president-elect Donald Trump’s likely policy on China and fears of a trade rift between the two ­countries.