AFP
Washington: A US government official said that the country's Treasury Department is drafting curbs that would block firms with at least 25 percent Chinese ownership from buying U.S. companies with "industrially significant technology".
The official, according to 'International Business Times', emphasized that the Chinese ownership threshold may change before the restrictions are announced on Friday.
The Treasury investment restrictions are expected to target key sectors, including several China is trying to develop as part of its "Made in China 2025" industrial plan, the official said.
Among its objectives, the plan aims to upgrade China's capabilities in advanced information technology, aerospace, marine engineering, pharmaceuticals, advanced energy vehicles, robotics and other high-technology industries.
The Wall Street Journal also said the U.S. Commerce Department and National Security Council were proposing "enhanced" export controls to keep such technologies from being shipped to China.
The White House on May 29 said the Trump administration would press ahead with restrictions on investment by Chinese companies in the United States as well as "enhanced" export controls for goods exported to China, with details to be announced by June 30.
The move marks another escalation of the US President Donald Trump's trade conflict with China, which threatens to roil financial markets and dent global growth.
