Yesterday, the Biden administration issued a Final Rule on outbound investment restrictions, targeted at China and focusing on certain key technologies.

Last week, Beijing opened all manufacturing sectors to foreign investment, and started pilot programs to attract foreign investment in the medical sector. This came at a time when foreign investment continues to find challenges in the market.

Chinese and Italian companies have recently signed agreements in the solar, wind, and EV sectors, following Italian Prime Minister Giorgia Meloni's China trip.

Nippon Steel's offer to buy U.S. Steel has generated controversy in the U.S., in part due to Nippon's connections with Chinese producer Baosteel. In the midst of a national security investigation of the U.S. Steel purchase, Nippon has now severed this China tie.

A proposed rule issued by the U.S. Treasury Department provides additional details on an Executive Order issued by President Biden last year relating to U.S. investment in China in several sectors with a close connection to the development of military technology.

Tesla received a significant boost in China last week as the company cleared some key hurdles for its operations, as the company seeks to solidify its foothold in China.

China's Ministry of Industry and Information Technology (MIIT) announced last week that the government will open up foreign investment in the value-added telecommunication business in some cities as pilot projects.