White House sounds alert on inbound Chinese investment
President Joe Biden has urged his administration to pay close attention to inbound investment deals involving critical technologies such as semiconductors, as part of a continuing effort to address security threats from China.
Biden on Thursday issued an executive order aimed at boosting scrutiny of deals involving foreign companies in high-tech industries such as artificial intelligence, quantum computing and biotechnology. It was aimed at the Committee on Foreign Investment in the US, an inter-agency panel that vets inbound investment for security risks.
Janet Yellen, the US Treasury secretary who chairs the Cfius process, said the executive order would sharpen the government’s focus on protecting national security while maintaining an open investment policy.