US Unveils Outbound Investment Prohibitions
The Biden administration Aug. 9 unveiled its plans for a new outbound investment screening regime, which will restrict U.S. investments in three advanced technology sectors in China and set notification requirements for other sensitive outbound investments. The new screening regime,…
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outlined in an executive order to be signed by President Joe Biden, will prohibit certain investments in entities operating in China’s quantum information technology, artificial intelligence and semiconductor/microelectronics industries, namely those that transfer technological “know-how” to Chinese companies, a senior administration official said during a call with reporters. The prohibitions will take effect after the Treasury Department solicits public comments, writes and finalizes regulations.