US Treasury Proposes Curbs on China Biotech Investment

The Treasury Department has proposed expanding U.S. restrictions on investments in sensitive technologies in countries of concern, building on rules already covering areas such as semiconductors, quantum technology and artificial intelligence. The proposed expansion would include biotechnology, supercomputing and hypersonic systems, with some transactions prohibited and others subject to government notification. The administration says the restrictions are intended to prevent American capital and expertise from advancing technologies that could threaten national security; the proposal would apply to certain investments above $50,000, while excluding many ordinary financial investments. Treasury is accepting public comments before issuing a final rule.