Chinese authorities are implementing new measures that would block major technology companies from accepting American investment dollars without first obtaining government clearance, according to a Bloomberg News report released Friday.
The news outlet cited sources with knowledge of the situation, though Reuters has not been able to independently confirm these details.
According to the report, Chinese government agencies, including the National Development and Reform Commission, have recently directed multiple private technology companies to turn down investment from United States sources during funding rounds unless they secure explicit approval beforehand.
The new guidance has reportedly reached artificial intelligence companies Moonshot AI and StepFun, Bloomberg indicated. Additionally, ByteDance, the parent company behind the popular social media platform TikTok, has been instructed that it must obtain clearance before allowing any secondary share transactions involving American investors.
The development represents another layer in the ongoing technological tensions between the world’s two largest economies, as both nations continue to scrutinize cross-border investments in sensitive technology sectors.
