FACTORS FOR DETERMINATIONS UNDER § 800.1001(a) / § 802.1001(a)

In making a determination with respect to whether a foreign state has established and is 

effectively utilizing a robust process to assess foreign investments for national security risks and 

to facilitate coordination with the United States on matters relating to investment security (or that 

it has made significant progress toward these processes), the Committee will generally take into 

consideration, as appropriate, such matters as: 

 

(a) the extent to which the foreign state possesses legal authority to review foreign 

investment transactions regardless of whether the parties involved are publicly traded, 

privately held, or state-owned entities; 

(b) the extent to which the foreign state has in place and effectively utilizes a review 

mechanism for foreign investment transactions that is cross-sectoral and includes the 

defense industrial base, advanced technology, dual-use and military goods, network 

technologies, and critical infrastructure of the foreign state; 

(c) whether the foreign state possesses the legal authority to impose conditions on, 

prevent, or, if already consummated, unwind, foreign investment transactions to 

protect its national security, and the extent to which the foreign state has effectively 

utilized such authority; 

(d) whether the foreign state has the legal authority to obtain information concerning, and 

conducts a comprehensive analysis of: 

(1) the ultimate beneficial owners of the parties to a foreign investment 

transaction; 

(2) the persons with key rights relating to important matters affecting the parties 

to a foreign investment transaction; and 

(3) the national security risk posed by the parties to a foreign investment 

transaction; 

(e) the extent to which the foreign state maintains the confidentiality of sensitive 

commercial information provided by the parties to transactions reviewed by the 

national security investment review regime of the foreign state; 

(f) the extent to which the foreign state monitors and enforces compliance by parties to a 

foreign investment transaction with conditions the foreign state has imposed on such 

transaction; 

(g) the extent to which the foreign state monitors and identifies foreign investment 

transactions for which the parties to such foreign investment transactions did not 

notify the foreign state government authorities; 
(h) whether the foreign state has in effect an arrangement with the U.S. Government to 

safeguard national security as it pertains to foreign investment that includes 

confidentiality and classification requirements regarding sensitive information shared 

by the U.S. Government with the foreign state; 

(i) whether the foreign state possesses the legal authority to share with the U.S. 

Government information important to national security analysis of foreign 

investment, to the extent necessary for national security purposes, and subject to 

appropriate confidentiality and classification requirements; and 

(j) such other factors as the Committee may deem to be appropriate regarding a foreign 

state’s processes related to reviewing foreign investments for national security risks, 

generally or in connection with a specific foreign state, including the national security 

interests of the United States. 

The above factors are provided as guidance only and do not establish any legal standard.