FILE PHOTO: A bronze seal for the Department of the Treasury is shown at the U.S. Treasury building in Washington, U.S., January 20, 2023. The Biden administration's work on the new rules would in practice largely deal with U.S. investments in China though the report given to lawmakers did not identify any countries, the WSJ said. The new rules are expected to cover private-equity and venture-capital investments in advanced semiconductors, supercomputing and some forms of artificial intelligence, the WSJ reported quoting people familiar with the matter as saying. Reuters reported last month that Biden administration was planning an outright ban on investments in some Chinese technology companies and increased scrutiny of others. The United States passed a sweeping set of regulations last year that aimed at hobbling China's semiconductor industry.

Source: Wall Street Journal March 04, 2023 16:56 UTC