The Biden administration has set out its latest plans to curb the modernisation of China’s military with a new regulation restricting US investment in Chinese cutting-edge technology.
The Treasury on Friday released proposals for a new rule designed to implement an executive order that President Joe Biden signed last year. The regulation — which could be amended following a six-week public comment period — is aimed at restricting the flow of US technology, capital and expertise to groups in China that work with the People’s Liberation Army.
It is the latest US effort to make it harder for Chinese groups deemed to be a security threat to gain access to new technology and will complement several sweeping export control packages introduced over the past two years.