The Biden administration announced this week that technology companies that receive funds from the $280 billion CHIPS and Science Act will be barred from building advanced facilities in China for a period of 10 years. Secretary of Commerce Gina Raimondo announced the rule during a Sep. 6 press conference, framing the rule as an important step for safeguarding national security. “Companies who receive CHIP[S] funds can’t build leading-edge or advanced technology facilities in China for a period of 10 years,” Raimondo said . “Companies who receive the money can only expand their mature node factories in China to serve the…