China plans to restrict top technology firms, including leading AI startups, from accepting U.S. capital without government approval. Bloomberg News reported the move on Friday, citing people familiar with the matter.
Reuters could not immediately verify the report.
Chinese regulators, including the National Development and Reform Commission, recently instructed several private tech firms to reject U.S. investment in funding rounds. This applies unless the funding is explicitly approved, the report said.
AI startups Moonshot AI and StepFun were among the companies that received the guidance. TikTok owner ByteDance has also been told it should not allow secondary share sales to U.S. investors without clearance.
Reuters
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