Sources claim the Biden administration is planning to ban U.S. investments in some Chinese tech companies and review others. Some banned investments are connected to chip manufacturers and related technology. Former White House official Peter Harrell said the government should create “a narrowly tailored regime” requiring investment disclosures in order to “limit or block the small number of transactions that are likely to raise serious national security risks.”
From Reuters:
"No restriction or repression can stop the pace of China's scientific and technological development," a spokesperson for the Chinese Embassy in Washington said in a statement. "The U.S. politicians' unwarranted restrictions on normal trade and economic cooperation between China and the U.S. will only ...miss development opportunities." ... It also illustrates the government's desire for more information on U.S. investment in Chinese tech startups. A report by a Georgetown University think tank earlier this month showed U.S. investors including the investment units of chipmakers Intel Corp (INTC.O) and Qualcomm Inc (QCOM.O) accounted for nearly a fifth of investments in Chinese AI companies from 2015 to 2021, transactions valued at $40.2 billion.
