WASHINGTON : The Biden administration plans to outright ban investments in some Chinese technology companies and to increase scrutiny of others, three sources said, part of its plan to crackdown on the billions American firms have poured into sensitive Chinese sectors. The ban is expected to apply to
WASHINGTON : The Biden administration plans to outright ban investments in some Chinese technology companies and to increase scrutiny of others, three sources said, part of its plan to crackdown on the billions American firms have poured into sensitive Chinese sectors.
The White House declined to comment and the Chinese embassy in Washington did not immediately respond to a request for comment. The Biden administration would give industry a chance to weigh in on proposed rules before the plan took effect, a source said. The executive order, previously expected for the fourth quarter of last year, was further delayed in part to avoid antagonizing Beijing ahead of Secretary of State Antony Blinken's planned February trip to China. That trip was later postponed because of the Chinese spy balloon.
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