Chinese venture aims to skirt US sanctions: expertCONCERTED EFFORT: A planned venture fund will likely serve as a platform to enhance competition with and acquire technology from the US, an expert saidStaff writer, with CNAA plan by a group of Chinese military and business institutions to invest US$471 million to set up a venture capital fund aims to secure high-end military technology by circumventing US sanctions, a defense expert said on Friday. It is an important supplier of war simulation and pilot training systems to the Chinese military, Yang said. China Poly is among 102 state-owned enterprises under the supervision of the Chinese Assets Supervision and Administration Commission. Participants in the planned venture fund have close ties with Chinese authorities, he said, adding that China Poly is one of its largest controlling institutions. Poly Technologies (保利科技有限公司), a subsidiary of China Poly, is the largest state-owned supplier of military equipment, missile technologies and drones to the Chinese military, Yang said.

Source: Taipei Times April 18, 2022 03:57 UTC