China urges tech companies to boost overseas investment in emerging technologies

According to a report, the Chinese government has urged domestic technology companies to ‘seize overseas market opportunities in digital infrastructure’ by investing in emerging technologies, such as 5G, artificial intelligence, and satellite communications. In the new guideline, the government said increasing foreign investment and cooperation in the digital economy would help promote ’technological self-reliance’, while adding that  it is beneficial for Chinese companies to participate in reshaping the global industrial chain. 

The USA has implemented a number of sanctions and exercised tech diplomacy around the world to limit the installment and deployment of technologies made by Chinese companies, like Huawei. Despite the restrictions, China’s commerce ministry recently reduced the list of banned and restricted technology imports from 126 items to 24. In addition, it also relaxed import restriction criteria, removing mention of ‘technology that will have a significant impact on China’s public interest’. On the other hand, China added new items to the list of restricted imports, deep fake technology and data encryption. The draft guidance is open for public comment until 5 August, 2021.