China to curb US investment in tech companies: Report

China plans to restrict top technology firms, including leading AI startups, from accepting U.S. capital without government approval, ‌Bloomberg ⁠News reported ⁠on Friday, citing people familiar with the matter.

Reuters could not immediately verify the report.

Chinese regulators, including the National Development and ⁠Reform Commission, ‌have recently instructed several private technology firms ⁠to reject U.S. investment in funding rounds unless explicitly approved,, the report said.


AI startups Moonshot AI and StepFun were among the companies that received ‌the guidance, the report said, adding that TikTok owner ⁠ByteDance has also been told it should not allow secondary share sales to U.S. investors without clearance.