Biden set to sign executive order this week to curb investment to China expected this week – report

 

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US President Joe Biden is set to sign an executive order this week to curb the restrictions on American investment in China’s technology sectors, Reuters reported.

The order is expected to target US private equity, venture capital and joint venture investments in China in semiconductors, quantum computing and artificial intelligence and most investments captured by the order will require that the government be notified about them. Some transactions will be prohibited, the report said.

In response, the Chinese embassy in the US said that US “habitually politicizes technology and trade issues and uses them as a tool and weapon in the name of national security”, adding that China will follow developments and firmly safeguard its rights and interests.