A worker adjusts the British and Chinese national flags (R) on display for a signing ceremony at the 7th UK-China Economic and Financial Dialogue “Round Table on Public-Private Partnerships” at the Diaoyutai State Guest House in Beijing, China , September 21, 2015. REUTERS/ Andy Wong/File Photo
LONDON, Aug 10 (Reuters) – Britain said on Thursday it was considering how to respond to U.S. President Joe Biden’s decision to ban some technology investments in China, adding that it was still assessing potential national security risks. .
Biden signed a executive order on Wednesday authorizing the US Treasury Secretary to prohibit or restrict US investment in Chinese entities in three sectors: semiconductors and microelectronics, quantum information technology and certain artificial intelligence systems.
The US government has said the measures are designed to address national security risks. China said on Thursday that it was seriously concerned about the move.
A spokesman for Prime Minister Rishi Sunak’s government said the executive order provided important clarity on the US approach: “The UK will consider these new measures closely as we continue to assess the potential national security risks associated with some investments”.
London has recently sought to stabilize its relationship with Beijing after a period of turmoil over issues including security regulations in Hong Kong and alleged human rights abuses against Uyghur Muslims in Xinjiang.
foreign secretary james smartly He laid out Britain’s new approach in April, saying it would seek to protect itself by limiting national security threats posed by China while engaging in areas such as trade, investment and climate change.
Sunak and Biden signed a new deal to strengthen the historic security alliance between their two countries in June, pledging to deepen economic ties in areas such as advanced technologies, clean energy and critical minerals.
Official data shows that China is not a major destination for British foreign investment, with a figure of 10.7 billion pounds ($13.6 billion) at the end of 2021, compared with 461.4 billion pounds from the United States. British investment in Hong Kong stood at 77.6 billion pounds.
($1 = 0.7857 pounds)
Reporting by Kate Holton Editing by William Schomberg and Sharon Singleton
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