A congressional panel is appealing to the next US president to control Chinese investment in American entertainment, the Internet and media assets.

The bipartisan Congressional-Executive Commission said the US needed to "address potential trade barriers in China, including ongoing and persistent restrictions on the free flow of news and information which affect foreign media companies attempting to access the Chinese market."

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According to the Financial Times, China has blocked several US internet companies such as social networking sites like Facebook and Twitter and media outlets like Bloomberg, the New York Times, and Wall Street Journal.

While these US companies are scaling back investments, Chinese firms, on the other hand, are on shopping spree of merging and acquiring US assets.

Because of this, the commission proposed that the US government should take into consideration Chinese investors' market access in news, online media, and the entertainment business, saying it should be on a "reciprocal basis in order to provide a level playing field for US investors."

Meanwhile, in a related news, a House subcommittee chairman also asked the Justice Department to review Dalian Wanda Group Co. latest acquisitions in US' entertainment business, The Wall Street Journal reported.

Rep. John Culberson, in a letter, wrote that the recent acquisitions by China's richest man Wang Jianlin could encourage "foreign propaganda influence over American media."

Wang, who stressed his goal to acquire Hollywood's six major studios, already owns theater chain AMC Entertainment Holdings Inc., production firm Legendary Entertainment, and pending deals to acquire Dick Clark Productions and Carmike Cinemas.

While such scrutiny is reserved typically for deals in the aerospace sectors that are seen to affect national security, Culberson cited Wang's close ties with the Chinese government, saying this could have "profound implications for American media."

Culberson is seeking consideration from the Justice Department to allow US authorities to keep an eye on Wanda's acquisition activities in the US.