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China Trade Council Urges US to Deliberate Tech Investment Ban

The China Council for the Promotion of International Trade has formally requested the United States to carefully consider the rules that restrict or prohibit US investments in China's tech sector.

The flags of the United States and China
Credits: REUTERS

The council argues that the executive order signed by President Joe Biden last month, which targets investments in semiconductors, microelectronics, quantum information technologies and certain artificial intelligence systems, imposes vague and broad restrictions without distinguishing between military and civilian purposes.


The council believes that these restrictions not only pose transaction risks and compliance costs but also harm the global industrial chain, which relies heavily on interdependence. The order was intended to safeguard national security and prevent US capital from supporting China's military.


US financial firms, which were asked to provide input by September 28, are also seeking greater clarity on the proposed rules. They argue that the rules are too ambiguous and place the burden of compliance on investors. The implementation of these rules is expected to take place next year.

 
  • The China Council for the Promotion of International Trade has formally requested the US to carefully consider the rules that restrict or prohibit US investments in China's tech sector.

  • The council argues that the executive order signed by President Joe Biden imposes vague and broad restrictions without distinguishing between military and civilian purposes.

  • The council believes that these restrictions pose transaction risks, compliance costs and harm the global industrial chain.

Source: REUTERS

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