China requires government approval for US investments in tech firms
Business
China is tightening the rules for US investments in its tech scene, telling companies they need government approval before taking American money.
The focus is on big tech players and AI startups, as officials try to keep foreign influence in check.
China tells ByteDance to seek clearance
AI startups like Moonshot AI and StepFun have been told to follow these new rules, and TikTok's parent company ByteDance has been told it should not allow secondary share sales to US investors without clearance.
China is getting more protective of its own technology industries.