Treasury issues final outbound investment rule aimed at China

The Treasury Department has finalized a much-anticipated rule that will restrict U.S. investments in China’s semiconductor and microelectronics, quantum computing and artificial intelligence sectors. In an August 2023 executive order, President Biden directed Treasury to restrict U.S. investment in strategically important technology sectors in foreign countries of concern, which are defined as China, Hong Kong and Macau. The department alongside the order issued an advance notice of proposed rulemaking and sought stakeholder input on how such restrictions should be crafted...