“American investors in Chinese venture capital funds are rushing to comply with new rules that bar them from backing companies that develop artificial intelligence and other advanced technologies used by China’s People’s Liberation Army.”, — write: epravda.com.ua
American investors in Chinese venture capital funds are rushing to comply with new rules that bar them from backing companies that develop artificial intelligence and other advanced technologies used by China’s People’s Liberation Army. The Financial Times writes about it. The Biden administration’s measures, which take effect Thursday, include civil and criminal penalties for U.S. entities that invest in Chinese companies involved in semiconductors, quantum computing or artificial intelligence systems that could be used by the Chinese military. These rules place a significant due diligence burden on US investors. Institutions with money linked to Chinese investment funds must provide a “binding contractual guarantee” that their funds will not be used to buy companies that break the rules.Advertisement: Many investors have reacted by reducing or suspending new investments to China amid rising tensions between Washington and Beijing.