U.S. New Bills To Restrict Investment in Communist China

A bipartisan group of the U.S. Congress members recently agreed on legislation that would limit U.S. investment in the Communist China.
Members of the U.S. Congress said on Monday, June 13th, they had reached consensus on a piece of legislation. The legislation would give the U.S. government new powers to block billions of dollars of U.S. investment in Communist China.
The measure to restrict outbound investment is reportedly part of a broader bill. The original proposal was an independent bill by Republican Senator John Corning and Democratic Senator Bob Casey. Later, the bill was added to a House bill that included subsidies to U.S. chipmakers, countering the Chinese Communist Party’s rapid growth in technology.
The proposal supported by both parties and chambers also included input by the Biden administration. The U.S. National Security Adviser Jake Sullivan previously stated the administration is studying new investment measures and considering limiting foreign investment. This effort is to give the United States a better position in technology competition.
According to a study by the Rhodium Group, over the past 20 years, 43 percent of U.S. investment in Communist China could come under scrutiny given that the bill becomes law. The previous law allowed much broader categories for investment.

Picture of Aussie Brief News

Aussie Brief News

Go to First Page and Get the Latest News.

 Translator: MOS English Team – mingyue
Design&editor: HBamboo(昆仑竹)

Leave a Reply

Your email address will not be published. Required fields are marked *