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Chilean Lawmakers Push for Restrictions on Chinese Buying Spree

  • Deputies want curbs on foreign investment in strategic assets
  • State Grid would own 57% of Chile’s power distribution
Power lines run north from a solar project in Chile’s Copiapó, delivering power to the grid.
Power lines run north from a solar project in Chile’s Copiapó, delivering power to the grid.Photographer: Jamey Stillings

A group of Chilean legislators is proposing tighter rules on foreign investment in strategic industries after a Chinese state-owned company agreed to take control of over half of the South American country’s power distribution.

Lower house members from both the opposition and the ruling coalition presented a bill that would allow congress to block acquisitions of strategic assets by foreign state-owned companies, with debate set to begin this week.