US Senate Advances Bills to Block Foreign Ownership of Farmland and Property Development.
Originally Published 2 years ago — by Fox Business
North Carolina lawmakers have unanimously approved a bill that would prevent hostile foreign countries, including China, from buying farmland or any land within 25 miles of a military base. The bill now heads to the state Senate, making North Carolina one of the latest states to pass such restrictive measures. The recent scrutiny of foreign ownership of farmland in states like North Carolina is putting a spotlight on Smithfield Foods, the world’s largest pork producer, which was acquired 10 years ago by a Hong Kong-based company now known as WH Group.