US intensifies crackdown on Chinese tech companies

[superadmin]

The US government's attempts to crack down on China's high-tech sector have shown a tendency to intensify in scope and frequency in recent days, with the Biden administration on Thursday moving to ban a string of Chinese tech companies from receiving US capital and supplies, just days after Chinese artificial intelligence (AI) giant SenseTime was put on a US investment blacklist.

However, such a move will bring more harm to US firms than to the Chinese economy, as US investors will be forced to give up many chances to reap profits in China's rapidly developing high-tech sectors, experts said. 

The US Commerce Department announced on Thursday it will place export restrictions on several Chinese companies that use biotechnology and other technologies for national security reasons, including what it claimed were their roles helping the Chinese military and alleged human rights abuses against "ethnic and religious minority groups."    

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