The Biden Administration Plans To Curb U.S. Companies’ Investment In Chinese Technology

The Biden administration is poised to introduce new restrictions on U.S. companies funding the development of advanced computing technologies in China, according to a Feb. 9 U.S. media report.

 Inside sources say the order could ban direct investment in sensitive areas such as quantum computing, advanced semiconductors, and specific artificial intelligence with military or surveillance applications. The White House has been working for months to restrict investment in China by U.S. firms, and the measures are almost complete and expected to be issued within two months.

 In addition, the U.S. Treasury Department has contacted other governments and the European Union to ensure that they do not provide similar financing to China after the U.S. takes relevant action. The report also said the pending executive order is expected to require U.S. companies to report more information to the government about investments in certain hostile countries.

 The U.S. already enacted a set of export controls last year, including a measure to cut China off from specific semiconductor chips made anywhere in the world with U.S. equipment, in an effort to slow China’s technological and military progress.