U.S. unveils plans to extend scrutiny of foreign investment

FILE PHOTO: Flags at the Washington Monument flutter in the breeze as the sun casts its last rays on the U.S. Capitol Building in Washington February 5, 2009. REUTERS/Jason Reed

WASHINGTON (Reuters) - The U.S. government outlined more detail on Tuesday on its plans to beef up foreign investment oversight, including a proposal to permit the blocking of some foreign purchases of real estate within 100 miles (160 kilometres) of military bases.

U.S. Treasury is laying out proposed rules to extend the powers of the Committee on Foreign Investment in the United States, or CFIUS, which has increasingly flexed its muscles against Chinese companies.