The Biden administration will ban some US investment into Chinese quantum computing, advanced chips and artificial intelligence sectors, as it boosts efforts to stop China’s military from accessing American technology and capital.
The new executive order unveiled by President Joe Biden on Wednesday will come into force next year and will also require companies to notify the government of other investments in the three Chinese sectors.
The action will largely impact private equity and venture capital firms as well as US investors in joint ventures with Chinese groups.
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