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China's trade council requests US to reconsider tech investment ban

News Snapshot:

China's international trade council has formally requested the U.S. to "carefully consider" regulations which forbid or restrict U.S. investments in China's technology sector, Reuters reported citing the Asian country's state television. Last week, the U.S. Commerce Department issued final rules linked to the CHIPS and Science Act that aim to restrict expansion in China by semiconductor companies which will receive federal funds. The U.S. President Joe Biden had signed an executive order in August to regulate certain U.S. investments in China in three areas, semiconductors and microelectronics, quantum information technologies, and artificial intelligence, or AI. The Ministry of Commerce supervised,…

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