Private equity firms pledge to be China-free as US tightens rules

Private equity firms pledge to be China-free as US tightens rules

FILE PHOTO: Flags of China and U.S. are displayed on a printed circuit board with semiconductor chips, in this illustration picture taken February 17, 2023. REUTERS/Florence Lo/Illustration/File Photo

More than two dozen private equity firms have promised not to invest in entities based in China and Hong Kong, amid growing urgency in Washington to restrict capital investments into Chinese sectors that could threaten U.S. national security.