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Ban on US Talent at China Chip Firms Thwarts Xi’s Key Ambition

  • Biden administration’s new strictures choke off talent flow
  • President Xi sees technological advancement as key to future
Bloomberg business news
US Chip Suppliers Pull Back From China’s Yangtze After Biden Ban

China will speed its efforts to build a legion of talent and win the battle to develop homegrown technologies, President Xi Jinping pledged at the Communist Party’s twice-a-decade congress on Sunday. But new US restrictions issued a week earlier are already undercutting those plans.

The Biden administration’s latest salvo of sanctions includes restrictions on so-called US persons supporting the development, production or use of integrated circuits at some chip plants located in China. Effective Oct. 12, the measures are broad enough to encompass holders of US green cards as well as US residents and American citizens, capturing a wide swath of senior executives at Chinese semiconductor firms.