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Feature Story
Biden bans some U.S. tech investments in mainland China, Hong Kong
Aug 09, 2023 · asia.nikkei.com
The executive order comes as a response to the perceived threat posed by advances in sensitive technologies by countries that oppose the U.S. Publicly traded stocks and bonds, however, are expected to be exempt from these restrictions.
Key takeaways
- U.S. President Joe Biden has signed an executive order restricting certain American investments in mainland China, Hong Kong, and Macao in high-tech sectors such as artificial intelligence, semiconductors, and quantum technology.
- The order prohibits U.S. persons from making "certain transactions" in these sectors and requires them to notify the Treasury Department when making such transactions.
- Publicly traded stocks and bonds are expected to be exempt from these restrictions.
- The executive order is a response to the perceived threat posed by advances in sensitive technologies by countries that oppose the U.S.