Sanctions and export controls remained the primary tools of the Trump administration for restricting Chinese entities' access to U.S. technology. The administration has fine-tuned export controls to extend U.S. jurisdiction to more transactions, a primary focus being Chinese companies with military ties due to China's state policy of military-civilian fusion.
China's military-civil fusion was a major target of U.S. sanctions and export controls in 2020. Chinese companies saw their access to U.S. technology severely restricted by the expanded extraterritoriality of export control rules as well as new lists compiled by various government agencies targetting specific Chinese military end-users.
NDRC, MOFCOM launch new national security review for foreign investments; Trump administration adds SMIC and dozens other Chinese entities to Entity List; MSCI drops seven Chinese companies from indices following Trump Executive Order
U.S. House unanimously passes Holding Foreign Companies Accountable Act; China releases first export control list under new regime, targetting encryption technologies; CBIRC publishes shadow banking report, defining sector for first time
Hong Kong-mainland Stock Connect expands to include STAR Market-listed and pre-revenue biotech firms; Trump administration set to impose export control restrictions on 89 Chinese companies deemed to be tied to Chinese military; and zero P2P lenders in China following regulatory crackdown according to CBIRC official
A Biden administration is likely to share the same export controls and sanctions policy goals as its predecessor, while taking on a more collaborative approach with stakeholders and industry
