US proposes extending China outbound-investment curbs to biotech; Beijing vows to reserve countermeasures.
On 23 October the US Treasury issued a proposed rule for public comment expanding outbound investment restrictions to include biotechnology and broadening coverage of high-performance computing and hypersonic systems. A Ministry of Commerce spokesperson said on the 24th the rule discriminatorily widens curbs on China, overstretches national security and contravenes the two heads of state's consensus; China firmly opposes it and reserves the right to take corresponding measures. Washington says the measures aim to stop US capital from aiding rivals' dual-use strategic technologies.