China urges US Treasury to stop proposed restrictions on tech investments
Summary
Chinese officials urged the U.S. Treasury on Saturday to reconsider a proposed rule that would further limit U.S. investment in China’s technology industry. They said the proposed restrictions could disrupt trade relations between the two countries.Key Facts
- The Treasury Department proposed the rule on Thursday.
- The proposal would expand existing restrictions under the Outbound Investment Security Program.
- The existing program covers U.S. investments in certain technology areas, including hypersonic systems and quantum technology.
- Chinese officials said the proposed rule could disrupt trade relations between China and the United States.
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