U.S. Treasury Issues First Fine Over Outbound Investments in China’s Tech Sector

AI Summary

The U.S. Treasury imposed its first fine under a program restricting certain U.S. investments in China's technology sector. California-based Amidi Group, the parent company of Plug and Play Tech Center, was fined $200,000.

The U.S. Treasury Department said on Wednesday it had fined the parent company of startup accelerator Plug and Play Tech Center, the first penalty issued under an outbound investment restriction program targeting China’s tech sector. California real estate company Amidi Group was fined $200,000 ...