Millions of acres of American farmland become properties of China-linked people
File photo of a harvest on a farm in Dixon, Illinois
Millions of acres of land in the United States are being bought by foreign buyers, most prominently by China-linked individuals and entities. The foreign ownership in the US farmland increased to about 40 million acres in 2021, up 40 per cent from 2016, according to data published by the US Department of Agriculture.
What does it mean?
The foreign ownership of the US cropland has raised concern in Washington about possible national security risks. The US lawmakers have called for a crackdown on sales of farmland to China.
Earlier this week, Montana Senator Jon Tester repeated his demand for the US to clamp down on farmland sales to China-linked entities or persons.
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"While we learn more about the specifics around this unfolding situation, it highlights the need for Congress to do more to protect American agricultural security," Tester said in a statement.
Also read |Lawmakers enraged after Chinese Communist party member purchases 200,000 acres of US land
Previously, Tester co-sponsored a bill that called for a ban on entities from China, Russia, North Korea, and Iran from buying US agricultural land or businesses.
The legislation was added to the defence spending bill and passed the Senate by a wide margin but was stripped out of the final version by House Republicans.
Which Chinese person owns most US farmland?
According to a report by private landownership magazine LandReport, Chinese billionaire Chen Tianqiao, a Communist Party member,is the 82nd-largest land owner and second-biggest foreign owner in the United States.
Chen, 50, who made his fortune from a company that made online video games, owns 198,000 acres (80,127 hectares) of Oregon timberland that he purchased in 2015.
Nearly 40 million acres of American agricultural land was owned by non-US interests as of 2021, according to the most recent Department of Agriculture data, with entities from China owning the equivalent of 0.03% of all US farmland.
(With inputs from agencies)