Washington DC, June 3 -- In a move aimed at countering China's growing influence in the global biotechnology industry, senior US lawmakers have introduced legislation that would subject American investments in Chinese biotech companies to stricter national security scrutiny.

In a press release, Chairman of the House Select Committee on China, John Moolenaar, and Congresswoman Debbie Dingell unveiled the Biotech Investment National Security Act (BINSA). The proposed legislation seeks to expand oversight of outbound US investments in sectors considered critical to national security, particularly biotechnology.

If enacted, the bill would ensure that investments in areas such as pharmaceutical development, biologics manufacturing, and clini...