Bloomberg learned about Biden’s plans to limit US investment in China
According to agency sources, Biden intends to create a system in the United States that will allow the government to directly block investments in China's technology sector /756621881448911.jpg 673w” media=”(max-width: 320px) and (-webkit-min-device-pixel-ratio: 2), (max-width: 320px) and (min-resolution: 192dpi)” > < source srcset="https://s0.rbk.ru/v6_top_pics/resized/320xH/media/img/1/91/756621881448911.jpg 320w" media="(max-width: 320px)" >
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The administration of US President Joe Biden is considering taking measures that would limit US investment in Chinese technology companies. This is reported by Bloomberg, citing sources.
According to one of the interlocutors of the agency, the president may sign a corresponding decree “in the coming months.” It is possible that separate steps will be taken in relation to the social network TikTok. The Commerce Department, according to the source, may impose additional restrictions on chips used for artificial intelligence systems.
The White House is also discussing legislation with Congress that would require companies to disclose in advance information about possible investments in certain sectors of the Chinese economy. added another source. In addition, the creation of a system that will allow the government to block investments directly is being discussed, but a final decision has not been made at the moment.
Bloomberg notes that prior to this, the United States conducted a softer policy towards China's technology sector. The exceptions were the semiconductor industry and companies such as Huawei and Semiconductor, which are accused of endangering US national security.
Last week, the US government informed the American company Nvidia about the introduction of new export licenses for China and Russia: now its products are prohibited from being sold to these countries. Under the new licensing requirements, restrictions apply to GPU (graphics processing unit) accelerators that meet certain performance criteria, such as the A100 and H100 series products. Such models are used to work with artificial intelligence and increase the performance of calculations at times.
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As stated in a document on the website of the US Securities and Exchange Commission (SEC), in this way, the US authorities want to eliminate the risk that products covered by an export license can be used or diverted for “military end use”; in China and Russia.
Former US President Donald Trump signed an executive order banning American funds from investing in Chinese companies in November 2020. Trump banned investments in 31 companies, including Huawei, China Mobile, China Telecom and China Railway Construction Corporation. In the last days of his presidency, Trump added nine more companies to the list, among which was Xiaomi.
Later, Biden expanded the list to 59 companies. Among others, China National Nuclear Corporation (CNNC), China State Military Industrial Company (CASIC) and China Aerospace Science and Technology Corporation (CASC) were included in the list.
Authors Tags blocking conditions