EU Commission to analyse US order on tech curbs in China
Sign up now: Get ST's newsletters delivered to your inbox
US President Joe Biden signed an executive order to prohibit or restrict US investments in Chinese entities in three sectors.
PHOTO: REUTERS
Follow topic:
BRUSSELS - The European Commission will analyse the US ban on new US investment in China in sensitive technologies such as computer chips and is in close contact with the US administration, the European Union’s executive arm said on Thursday.
US President Joe Biden on Wednesday signed an executive order to prohibit or restrict US investments in Chinese entities
The US government has said the measures are designed to address national security risks. China said on Thursday it was gravely concerned by the move.
“We take note of the executive order on outbound investment released by the US on Aug 9. We will be analysing the executive order closely,” a European Commission spokesman said in an e-mail.
“We are in close contact with the US administration and look forward to continued cooperation on this topic.”
Britain said on Thursday it was weighing how to respond to the US decision, adding that it was continuing to assess potential national security risks.
A spokesman for Prime Minister Rishi Sunak’s government said the executive order gave important clarity on the US approach: “The UK will consider these new measures closely as we continue to assess potential national security risks attached to some investments.”
London has recently sought to stabilise its relationship with Beijing following a period of turbulence over issues such as security rules in Hong Kong and alleged human rights abuses against Uighur Muslims in Xinjiang.
Foreign Secretary James Cleverly set out Britain’s new approach in April, saying it would seek to protect itself by limiting national security threats posed by China while engaging in areas such as trade, investment and climate change.
Mr Sunak and Mr Biden signed a new agreement to strengthen the historical security alliance between their two countries in June, vowing to deepen economic ties in areas such as advanced technologies, clean energy and critical minerals. REUTERS
