US to bar and screen some tech investments in China

The US plans to require American companies to disclose investments they make in China in high-tech sectors such as artificial intelligence, and to prohibit certain investments outright.

The order by US President Biden formally kicks off the push to craft rules to bar American businesses from investing in firms from "countries of concern" that are active in quantum computing, advanced semiconductors and certain areas of artificial intelligence. They will now enter a public comment period, which is expected to further clarify what kinds of investments are off-limits. The rules are not expected to go into effect for months.

In the US, prior restrictions on China trade have relied on limiting sales of sensitive technology by US firms and screening Chinese investments in American companies. The Trump administration has also barred investments in firms tied to China's military. In the UK, a recent survey by the Institute of Directors found that one in five UK importers had already switched investments away from the country due to geopolitical tensions.

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