China Denies Blocking Foreign Investment in Tech Firms
The National Development and Reform Commission stated on Friday that it has never instructed domestic technology companies to refuse capital from overseas investors. This denial follows reports that regulators had asked artificial intelligence startups to reject U.S. funding unless explicitly approved by the government.
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China denied reports that it is pressuring domestic technology firms to reject foreign investment. The National Development and Reform Commission (NDRC) clarified on May 22 that no such mandate exists for private sector funding rounds. The statement aims to stabilize investor confidence after recent regulatory interventions in the artificial intelligence sector.
