The Biden administration issued an executive order in August 2023 directing Treasury to establish a new program to review and restrict outbound US investments in quantum technology, semiconductors, and AI systems to China, Hong Kong, and Macau. The regime combines targeted prohibitions on certain transactions with notification requirements for others, designed to prevent US capital from advancing Chinese military capabilities. A Senate amendment passed 91 to 6 in July 2023 added bipartisan legislative support, though with a broader scope of restricted technologies. This represents a structural expansion of US national security authority into capital flows, complementing existing export controls and inbound screening, and signals to US venture capital and private equity that investment in Chinese AI infrastructure now faces regulatory friction and reputational risk.
328 other tracked developments touching the same claims.