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Biden signs order banning US tech investments in China
来源：shippingazette 编辑：编辑部 发布：2023/08/15 14:48:57
US President Joe Biden signed an executive order last week that will prohibit some new US investment in China in sensitive technologies like computer chips and require government notification in other tech sectors.
The order authorizes the US Treasury secretary to prohibit or restrict US investments in Chinese entities in three sectors: semiconductors and microelectronics, quantum information technologies and certain artificial intelligence systems, reports Reuters.
The administration said the restrictions would apply to "narrow subsets" of the three areas but did not give specifics. The proposal is open for public input.
The order is aimed at preventing American capital and expertise from helping China develop technologies that could support its military modernization and undermine US national security. The measure targets private equity, venture capital, joint ventures and greenfield investments.
Mr Biden said in a letter to Congress he was declaring a national emergency to deal with the threat of advancement by countries like China "in sensitive technologies and products critical to the military, intelligence, surveillance or cyber-enabled capabilities."
China said last Thursday it is "gravely concerned" about the order and that it reserves the right to take measures.
The order affects normal operation and decision-making of enterprises, and undermines the international economic and trade order, a statement from the Chinese Commerce Ministry read.
The ministry also said it hopes the US will respect laws of the market economy and the principle of fair competition, and refrain from "artificially hindering global economic and trade exchanges and co-operation or set up obstacles for the recovery of the world economy".
The Chinese foreign ministry said the country was "strongly dissatisfied" with and "resolutely opposes the US's insistence on introducing investment restrictions on China", having also lodged solemn representations with the US.
China urged the US to fulfil Mr Biden's promise of no intention to decouple from China or obstruct China's economic development, the ministry said in a statement.
In a separate statement Hong Kong's government said the US restrictions were "unreasonable measures" against the special Chinese administrative region and said that they "hindered and disrupted normal investment and trade activities."
"The measures undermine the international economic and trade order and damage the economic and commercial interests of American companies themselves", the Hong Kong government said, adding that it created more uncertainty for global economic growth.
The proposal focuses on investments in Chinese companies developing software to design computer chips and tools to manufacture them. The US, Japan and the Netherlands dominate those fields, and the Chinese government has been working to build homegrown alternatives.
The White House said Mr Biden consulted allies on the plan and incorporated feedback from Group of Seven nations.
The order authorizes the US Treasury secretary to prohibit or restrict US investments in Chinese entities in three sectors: semiconductors and microelectronics, quantum information technologies and certain artificial intelligence systems, reports Reuters.
The administration said the restrictions would apply to "narrow subsets" of the three areas but did not give specifics. The proposal is open for public input.
The order is aimed at preventing American capital and expertise from helping China develop technologies that could support its military modernization and undermine US national security. The measure targets private equity, venture capital, joint ventures and greenfield investments.
Mr Biden said in a letter to Congress he was declaring a national emergency to deal with the threat of advancement by countries like China "in sensitive technologies and products critical to the military, intelligence, surveillance or cyber-enabled capabilities."
China said last Thursday it is "gravely concerned" about the order and that it reserves the right to take measures.
The order affects normal operation and decision-making of enterprises, and undermines the international economic and trade order, a statement from the Chinese Commerce Ministry read.
The ministry also said it hopes the US will respect laws of the market economy and the principle of fair competition, and refrain from "artificially hindering global economic and trade exchanges and co-operation or set up obstacles for the recovery of the world economy".
The Chinese foreign ministry said the country was "strongly dissatisfied" with and "resolutely opposes the US's insistence on introducing investment restrictions on China", having also lodged solemn representations with the US.
China urged the US to fulfil Mr Biden's promise of no intention to decouple from China or obstruct China's economic development, the ministry said in a statement.
In a separate statement Hong Kong's government said the US restrictions were "unreasonable measures" against the special Chinese administrative region and said that they "hindered and disrupted normal investment and trade activities."
"The measures undermine the international economic and trade order and damage the economic and commercial interests of American companies themselves", the Hong Kong government said, adding that it created more uncertainty for global economic growth.
The proposal focuses on investments in Chinese companies developing software to design computer chips and tools to manufacture them. The US, Japan and the Netherlands dominate those fields, and the Chinese government has been working to build homegrown alternatives.
The White House said Mr Biden consulted allies on the plan and incorporated feedback from Group of Seven nations.