Spokesperson of the Chinese Embassy in the United States responded, foreign media: Biden signs an administrative order for "investment restrictions on China" technology | investment | restrictions
Environmental Video/Producer Wang Li
According to Reuters and other media reports on the 9th, US President Biden signed an executive order on Wednesday local time regarding "investment restrictions on China". The order will strictly restrict US investment in sensitive technology fields in China and require US companies to report to the US government on investment in other technology fields in China. It is worth noting that the United States has repeatedly aired this administrative order, and China has clearly expressed its opposition.
Regarding the executive order, Reuters stated in its latest report that it authorizes the US Treasury to prohibit or restrict US investments in Chinese entities in three areas including semiconductors and microelectronics, quantum information technology, and artificial intelligence systems. According to reports, Biden claimed in a letter to Congress that he declared a state of emergency in response to the threats posed by China and other countries' advances in important sensitive technologies and products such as military, intelligence, surveillance, or cyber capabilities.
This kind of rendering of the so-called threat to China is not uncommon in Washington. Reuters cited insiders as saying that the administrative order is expected to be implemented next year, and multiple rounds of public opinion will be solicited before that. The report further stated that although US officials insist that the executive order is aimed at addressing "the most urgent national security risks" rather than separating the highly dependent economic relations between the US and China, this measure may still exacerbate tensions between the two world's largest economies.
Regarding Biden's signing of the aforementioned administrative order on the 9th, the Russian satellite news agency stated that Liu Pengyu, spokesperson for the Chinese Embassy in the United States, responded later on the same day, expressing great regret. "Despite China's repeated expressions of deep concern, the US continues to implement new investment restrictions. China is very disappointed with this," Liu Pengyu said. "The essence of China US economic and trade relations is mutual benefit and win-win. Bilateral investment is an important component of bilateral trade."
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According to a report by The New York Times on the 9th, the Biden administration plans to introduce investment restrictions on sensitive technology fields, including quantum computing, artificial intelligence, and advanced semiconductors, to prevent the transfer of US dollars and professional technology to China. This American media referred to the White House's action as "one of the first important measures taken by the United States to curb financial flows in the economic conflict with China." Analysts believe that communication and implementation of this measure will be difficult, and the US "business community has begun to oppose the politicization of the private market.". On the 9th, communication technology expert Xiang Ligang told Global Times reporters that the United States is going to hold an election next year, and the Biden administration needs to show a tough attitude towards China under election pressure. Therefore, measures to suppress China will be used as a tool to win votes. In this situation, Washington does not value the effectiveness of these measures after implementation, even if the interests of American companies will be harmed.