‘We won’t feel intimidated’: Chinese scientists see limited impact from US hi-tech investment ban
- Joe Biden’s executive order to block US dollars from flowing to sensitive technologies seen as having ‘more political significance’
- Tech industry said to be less reliant on American funds in recent years and some in China see the restrictions as an opportunity
A US ban on investment in certain sensitive technologies in China will have a limited impact since these areas have become less reliant on American funds in recent years, according to Chinese scientists.
Rapid advancement by “countries of concern” in these areas “significantly enhances their ability to conduct activities that threaten the national security of the United States”, according to the order.
It also claims the countries are exploiting or have the ability to exploit certain US outbound investments, including certain intangible benefits to help companies succeed.
China, along with its special administrative regions of Hong Kong and Macau, was the only country of concern noted in the emergency declaration.
Li Zhimin, deputy president of the ministry-affiliated National Centre for Science and Technology Evaluation, said the restrictions had “more political significance”, noting that the US had long been wary of Chinese advances in these sectors.
The US Treasury Department said it was considering a ban on investments in Chinese electronic design automation software or semiconductor manufacturing equipment; the design, fabrication or packaging of advanced integrated circuits; and the installation or sale of supercomputers.
