Middle Eastern wealth funds are facing greater scrutiny on U.S. deals from the administration of President Joe Biden, part of a broader pushback on entities perceived to have close ties with Beijing, according to people with direct knowledge of the matter.

The Committee on Foreign Investment in the United States is reviewing several multibillion dollar deals this year on concerns they could pose national security risks, said the people, who requested anonymity as the matter is private. Officials in Biden’s Cabinet are currently reviewing more than half a dozen acquisitions, including deals from Abu Dhabi Investment Authority, Mubadala Investment Co. and Saudi Arabia’s Public Investment Fund, they said.

While the U.S. remains a preferred investment destination for the region’s largest wealth funds, China has emerged as an increasingly attractive jurisdiction. The value of acquisitions and investments by Gulf funds into the Asian country has climbed to $2.3 billion in 2023 from about $100 million last year, according to boutique adviser Global SWF. That coincides with Beijing’s push to bolster political ties in the region since President Xi Jinping’s December visit to Riyadh.