By Greg Gao
(JW Insights) Jul 28 -- China firmly opposes the US passing the National Defense Authorization Act and requiring firms to notify the US government about certain high-tech investments, including semiconductor, quantum, and artificial intelligence, in China, a foreign ministry spokesperson said on July 27 in a press release.
“We firmly oppose the US inserting negative content related to China into the National Defense Authorization Act. The essence of China-US economic and trade cooperation is mutual benefit and win-win. Imposing restrictions or interference on normal economic and trade investment activities between industries and private sectors goes against market principles, disrupts the stability of the global supply chain, and ultimately harms the interests of American investors themselves,” China’s foreign ministry spokesperson Mao Ning responded to questions from reporters.
The US Senate passed the amended National Defense Authorization Act (NDAA) on July 25, with 91 votes in favor and six against. The latest amendment requires US companies to notify certain foreign investments. The legislation was introduced by Senators Bob Casey, a Democrat from Pennsylvania. “We need this type of outbound investment notification to understand just how much ... critical technology we are transferring to our adversaries via these capital flows,” Casey said.
