© Reuters. FILE PHOTO: U.S. and Chinese language flags are seen by way of damaged glass on this illustration taken, January 30, 2023. REUTERS/Dado Ruvic/Illustration/File Photograph
By Karen Freifeld
WASHINGTON (Reuters) – New guidelines into account would limit the move of U.S. investments and know-how into Chinese language corporations engaged on superior semiconductors, synthetic intelligence and quantum computing, a U.S. Treasury official mentioned on Wednesday.
Talking earlier than a Senate Banking Committee listening to, Paul Rosen, who oversees funding safety at Treasury, mentioned officers are engaged on curbing funding from the U.S. that “comes with know-how and experience to sure particular sectors and subsectors reminiscent of superior semiconductors, synthetic intelligence and quantum computing,” citing China and its army specifically.
Reuters reported in February that the Biden administration plans to ban investments in some Chinese language expertise corporations and improve scrutiny of others, three sources mentioned, as a part of its plan to crack down on the billions that American corporations have poured into delicate Chinese language sectors.
China hawks in Washington blame U.S. buyers for transferring capital and priceless know-how to Chinese language tech corporations that might assist advance Beijing’s army.
Individually, Republican Senator Invoice Hagerty requested about efforts to limit the provision of U.S. origin items to Chinese language telecommunications firm Huawei.
Exports to Huawei at the moment require a license. Requested about revoking these licenses, Commerce Division assistant secretary Thea Rozman Kendler mentioned, “We wouldn’t have a draft rule at the moment,” however added that “We’re below deep evaluation of this problem.”
Officers are carefully scrutinizing a variety of exports to China and mentioned that final yr they denied or took no motion on 1 / 4 of requests with a view to cease gross sales that might advance Beijing’s militarization.
In 2022, 5,064 export and re-export license purposes had been reviewed and about 26% had been denied or returned with out motion, Kendler mentioned in written testimony forward of the Senate Banking Committee listening to.