China believes that US restrictions will not affect the work of high-tech companies

US government restrictions on investment in Chinese high-tech companies will not have a significant impact on their activities, since these industries are practically independent of foreign funding, Chinese scientists say. This was reported by the South China Morning Post.

«[US] investment in quantum technologies or artificial intelligence stopped four or five years ago, and there was some investment in the semiconductor industry, but it stopped.» — quotes the publication of the words of Li Zhimin, vice president of the National Science and Technology Assessment Center under the Ministry of Science of the PRC. The restrictions are more «political in nature» and the US has long been wary of China’s technological advances, he added.

According to the publication, Chinese scientists believe that companies, universities and research institutes in China will be able to use sanctions as an incentive for further development of technology.

Earlier, Bloomberg reported that US President Joe Biden intends to impose restrictions on investment in China’s high-tech industries by mid-August. The restrictions planned by Washington will affect companies whose income is more than half associated with quantum computing and the development of artificial intelligence, primarily for military purposes. The restrictions are expected to take effect no earlier than 2024, and will not affect existing US investment in Chinese high-tech industries.

Chinese Foreign Ministry spokeswoman Mao Ning said that such a move by the US administration hinders normal technological cooperation between the two countries.