The Biden administration is poised to announce Wednesday new restrictions on American investments in China that involve sensitive technologies, according to the New York Times.
The Times reported Tuesday night that the rules would bar U.S. venture-capital and private-equity firms from investing in certain advanced-technology industries in China, including quantum computing, artificial intelligence and advanced semiconductors. It would also require more disclosure when U.S. companies invest in a broad range of Chinese industries, according to the Times.
The move has been widely anticipated as the U.S. moves to limit investments, particularly with companies supported by the Chinese military, that could be used to develop technologies that pose national-security risks.
“We’re simply ensuring that U.S. and allied technology is not used against us,” national security adviser Jake Sullivan said in April. “We are not cutting off trade.”