Beijing has reacted angrily saying it s gravely concerned about the order. A spokesman for the Chinese Embassy in washington said the curbs seriously undermine the interests of chinese and American Companies and investors. But republicans have said the restrictions don t go far enough. From new york, Michelle Fleury has more. This is a new front in the tech war between two global superpowers. The restrictions prevent American Private equity and Venture Capital firms from investing in high tech sectors in china such as quantum computing, Artificial Intelligence and advanced semiconductors. The goal is to stop us capital and know how from speeding up the development of technologies that could help china develop weapons for use against america in a military conflict. It would also require firms making investments in a broader range of sensitive Chinese Industries to report that activity. Potentially laying the ground for more restrictions on investments down the road. The regulations aren
In hawaii, hasjust given this update. Its a very, very sad day in hawaii. It is devastating. And i know many families on maui are struggling right now as well as many Family Members across the state. We want to send our heartfelt love to them and our prayers to them. I am going to talk with two hats on, from here at the Convention Centre, we set up to accommodate 2,000 people. As the planes were leaving from maui, we realised that some of the people, in fact, a lot of the people that were coming to 0ahu from maui had made their own accommodation. We have a set up here that would accommodate 2,000 people. I want to really thank the team here because terry 0rton from the Convention Centre was here at four oclock in the Morning Setting up. They are doing an incrediblejob. People have been up all night. I really want to thank them for all of the work that they did, the red cross has been here helping us, nicky from the red cross. Thank you to all of those people. John monaghan and jerry gi
escalating the tech war. president biden limits us investment in china s chip making, ai and quantum computing sectors. beijing says it s gravely concerned . but republicans argue it s not enough. plus the tide turns for sri lanka. can it ride a wave of tourism back from the worst economic crisis in its independent history? hello, i m marc ashdown with the top busines stories. we start in the us and the latest twist in the us china tech war. president biden has signed an executive order to limit investment by american companies in chinese technology firms. it s because of serious national security risks . it means us firms will have to disclose investments in sensitive areas like artificial intelligence and some types of investment will be banned altogether.
escalating the tech war. president biden limits us investment in china s chip making, aland quantum computing sectors. beijing says it s gravely concerned . but republicans argue it s not enough. plus the tide turns for sri lanka. can it ride a wave of tourism back from the worst economic crisis in its independent history? hello, i m marc ashdown with the top busines stories. we start in the us and the latest twist in the us china tech war. president biden has signed an executive order to limit investment by american companies in chinese technology firms. it s because of serious national security risks . it means us firms will have to disclose investments in sensitive areas like artificial intelligence and some types of investment will be banned altogether.