Biden Administration Proposes Limits on Investments in Chinese Tech Over Security Concerns

Non-disclosure, prohibited transactions could lead to $1 million fines, 20 years in prison.

U.S. Assistant Treasury Secretary for Investment Security Paul Rosen speaks during the second annual Committee on Foreign Investment in the United States (CFIUS) Conference at the Treasury Department in Washington on Sept.14, 2023. Alex Wong/Getty Images

The Biden administration has proposed new requirements that would constrain U.S. investments in artificial intelligence and other critical technology sectors in China due to national security concerns.

The U.S. Treasury Department, on Friday, announced new proposed requirements for some transactions and bans on others involving U.S. outbound investments in the development of artificial intelligence, quantum computing, semiconductor, and microelectronics technologies.