US Moves Closer to Restricting Investment in China for Chips, AI

The Biden administration advanced plans to restrict investments by US individuals and companies into China, with a focus on curbing Beijing’s ability to gain ground in semiconductors, quantum computing and artificial intelligence.

The <-bsp-bb-link state="{"bbHref":"bbg://securities/3061059Z%20US%20Equity","_id":"00000190-3b8e-d497-a7fb-ff8f26500000","_type":"0000016b-944a-dc2b-ab6b-d57ba1cc0000"}">Treasury Department said Friday that new rules it’s proposing would restrict outbound investment in technologies critical to “the next generation of military, intelligence, surveillance or cyber-enabled capabilities that pose national security risks to the United States.”

The restrictions, which have been in the works for more than a year, are part of President Joe Biden’s strategy of slowing Beijing’s race to develop sensitive technologies that threaten ...