NEW rules under consideration would restrict the flow of U.S. investments and know-how into Chinese companies working on advanced semiconductors, artificial intelligence and quantum computing, a U.S.Treasury official said Wednesday. Speaking before a Senate Banking Committee hearing, Paul Rosen, who oversees investment security at Treasury, said officials are working on curbing investment from the United States that “comes with know-how and expertise to certain specific sectors and subsectors such as advanced semiconductors, artificial intelligence and quantum computing,” citing China and its military in particular. Reuters reported in February that the Biden administration plans to ban investments in some Chinese technology companies and increase scrutiny of others, three sources said, as part of its plan to crack down on the billions that American firms have poured into China. Separately, U.S. Republican Senator Bill Hagerty asked about efforts to restrict the supply of U.S. origin goods to Shenzhen-based tech giant Huawei Technologies Co. U.S. exports to Huawei currently require a license. (SD-Agencies) |