I posted this earlier:

US Congress moving forward with laws to restrict US investment in China firms

A little more now, this via ING:

  • A bipartisan proposal in the US to limit US firms’ investment in China is gaining ground. The proposal is part of a $52bn bill to boost US competitiveness with China and to expand chipmakers' US-based production. The limit on investment is likely to include Chinese semiconductor and advanced machinery manufacturers. China has purchased more semiconductor machinery since last year. But in the future, it is likely to face steeper hurdles to buying machines needed for semiconductor production. This will push China to strive for even more self-dependence in this sector. However, without advanced machinery, it will be even more difficult to achieve this goal. This sector is likely to come under selling pressure today.