In reaction to reports that Chinese companies are purportedly buying up substantial amounts of farmland, Florida Governor Ron DeSantis has threatened to crack down on disproportionate influence from rogue regimes like China.
DeSantis was questioned over a recent study by the National Association of Realtors, which discovered that Chinese investors spent more on American real estate than any other foreign group during the past year, totaling $6.1 billion.
Florida was the source of 24% of all foreign real estate acquisitions made in the US, with California coming in second (11 percent ).
On Friday, DeSantis told Fox News’ Laura Ingraham that he didn’t believe that companies with apparent links to the Chinese Communist Party should be permitted to acquire American real estate holdings.
According to reports, businessmen from the Chinese mainland, Taiwan, and Hong Kong have been active house buyers in states like Florida and California.
The US Department of Agriculture reported in 2019 that at least 192,000 acres of farmland valued more than $1.9 billion were controlled by Chinese-linked businesses.
According to data published by the NAR, Florida was the state that drew the most number of real estate acquisitions. For the 14th year running, international investors showed the greatest interest in Florida real estate.
According to DeSantis, he intends to enact legislation that would place restrictions on how much money Chinese companies may put into Florida pension funds.
In a letter to the Biden administration earlier this month, Republican senators Kevin Kramer of North Dakota and Marco Rubio of Florida demanded that officials look into a Chinese company’s acquisition of acreage in North Dakota just a few miles from a key military facility.
A business called Fufeng Group, located in Shandong, China and specializing in sugar alternatives and taste enhancers, recently bought 300 acres of farmland close to Grand Forks, North Dakota, a remote region that is approximately 90 minutes’ drive from the Canadian border.
