China denies vetoing US investment in tech and announces new measures

The NDRC (China's National Development and Reform Commission, in English) denied this Friday (22) rumors that Beijing had instructed Chinese technology companies to reject American investments, amid tensions between China and the United States in the areas of technology and national security.

During a press conference, NDRC spokesperson Li Chao stated that "opening up to the outside world is a basic policy of China."

He further stated that the government "never demanded that Chinese technology companies stop accepting foreign investment."

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At the same time, the leader stressed that foreign capital must obey Chinese laws and "cannot harm the national security and interests" of the country. "China's door of opening up will only get wider and wider," Li said.

He added that Beijing will continue to implement measures to improve the business environment and attract foreign investment.

At the same press conference, the NDRC also informed that it is preparing new documents to accelerate the implementation of the "Artificial Intelligence+" strategy, aimed at integrating AI into different sectors of the Chinese economy.

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According to Li, the government intends to expand support in areas such as computing capacity, data and infrastructure, as well as encouraging state-owned companies and local governments to open up "high-value application scenarios" for AI tools.

The leader stated that China has already published policies for more than ten sectors linked to the "AI+" program, including manufacturing, health and energy, and that the country is simultaneously working on technology regulation and governance measures.

"We are currently conducting studies for AI legislation," Li said, adding that the aim is to ensure a "beneficial, safe and orderly" development of the technology.

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Source: CNN