Chinese Foreign Direct Investment to the United States is expected to hit an all time high in 2016. But rejected investment offers and criticism of China by some U.S. presidential candidates is causing some to question whether the United States will continue to welcome investments from China in the future.

In March, Starwood Hotels and Resorts received a U.S.$14 billion bid from China’s Anbang Insurance. It would have been China’s biggest U.S. acquisition ever, but the deal eventually fell through after Marriott increased its offer to buy Starwood.

The Anbang bid illustrates just how much Chinese companies are willing to pay to diversify their holdings.

Foreign Direct Investment from China to the United States is projected to hit an all-time high in 2016, somewhere between U.S.$20 billion and U.S.$30 billion, roughly double the amount in 2014.

But some American companies in the semiconductor industry have recently rejected Chinese offers for fear they would not be approved by CFIUS, the regulatory committee headed by the U.S. Treasury that vets foreign takeovers for national security concerns.

CFIUS’s latest data shows that in 2014 it scrutinized 24 Chinese bids. China has topped the list of most reviewed transactions from 2012 to 2014.

But experts like Stephen Orlins say that is not because there is more scrutiny of Chinese offers, but because the volume of Chinese deals has exploded in recent years.

Criticism of China, led by U.S. presidential candidate Donald Trump, is creating a perception that the United States is not receptive to Chinese mergers and acquisitions. 

And perceptions matter. Experts say if Chinese companies think they will face increased scrutiny by U.S. politicians and regulators they might shy away from investing, at least until the election is over.