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news about bet9ja today The Biden administrations plans to limit investments in China will primarily focus on cutting-edge technology and will only apply to new investments, according to Bloomberg. These restrictions are not expected to take effect until at least 2024 due to the bureaucratic process in Washington. Officials are working towards finalizing a proposal by the end of August, which aims to screen and potentially prohibit investment in Chinas semiconductor, quantum computing, and artificial intelligence sectors. As the administrations initial ambitions have been scaled back, the proposal is expected to spare the biotechnology and energy sectors, according to people familiar with the matter. Chinas Foreign Ministry spokesperson Mao Ning responded to the matter at a Regular Press Conference on July 18, and said, We hope that the US will follow through on President Bidens commitment of not seeking to ‘decouple from China, halt Chinas economic development or contain China, and create a sound environment for China-US economic cooperation and trade. [Bloomberg]

news about bet9ja today The US Bureau of Industry and Security (BIS) added seven Chinese aerospace electronics and related entities to its Entity List on Wednesday, restricting tech exports to them from US companies. BIS stated that the entities perform activities contrary to US national security and foreign policy interests by utilizing American tech “in support of Chinas military modernization efforts. According to BISs announcement, six out of the seven entities are technically research institutions, at least by name, that focus on aerotechnics, including both hardware and software. An analyst familiar with the field told Caixin that five of the seven entities listed had experience in aerospace semiconductor development, suggesting that the US is aiming to contain Chinas development in this industry. China Aerospace Science and Technology Corporation (CASC) 9th Academy 772 Research Institute, for example, develops over 20 types of chips and 600 models used for airspace and military projects, according to Caixin. The latest addition brings the total number of Chinese entities on the list to 600, with more than 100 added since the start of the Biden administration. [Caixin, in Chinese]