ARTICLE · 16 AUGUST 2023

Biden Administration Issues Executive Order And Proposals Targeting Outbound Investment In China

Wiley Rein

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After much anticipation, on August 9, 2023, the Biden Administration released an Executive Order (E.O.) outlining how the U.S. Government will begin to regulate U.S. investments in the People's Republic of China.

GlobalGovernment, Public Sector

Daniel P. Brooks

Hon. Nazak Nikakhtar

After much anticipation, on August 9, 2023, the Biden Administration released an Executive Order (E.O.) outlining how the U.S. Government will begin to regulate U.S. investments in the People's Republic of China. This E.O., when implemented, will regulate U.S. investments in certain Chinese companies engaged in activities related to semiconductors and microelectronics, quantum information technologies, and artificial intelligence (AI). The announcement follows months of discussion at both the White House and within Congress regarding whether and how to curb capital flows into Chinese companies that are developing advanced technologies with military and intelligence applications. Alongside the E.O., the U.S. Department of the Treasury (Treasury) issued an Advance Notice of Proposed Rulemaking (ANPRM) soliciting input from the public on implementation of the E.O. and the anticipated scope of the program before it goes into effect. Comments on the ANPRM must be submitted

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