November 15, 2022
Against the backdrop of increased geopolitical tensions and broader decoupling trends, the United States has implemented sweeping new export controls designed to make it extremely difficult for Chinese companies to develop cutting-edge technologies that might have military applications. The restrictions will make it increasingly difficult for Chinese companies to obtain or manufacture advanced semiconductors and integrated circuits, which are critical for the development of artificial intelligence. The new rules also bar U.S. individuals and companies from providing direct or indirect support for the development or production of such chips in China and will make it harder for Chinese companies to develop supercomputers with potential military applications.
Taken together, these new restrictions impose an effective embargo against China in these technology sectors. In imposing the restrictions, the U.S. government explained that it developed this sweeping set of new regulations to curtail China’s use of these items in the development of weapons of mass destruction, artificial intelligence and supercomputing-enhanced war fighting, and in technologies that enable violations of human rights.
These new changes have already proven to be disruptive. U.S. suppliers have already reportedly cut ties to Chinese chipmakers, and there are reports of “mass resignations” of U.S. employees in China’s semiconductor industry.
Hear from our experienced export controls attorneys in the U.S. and Hong Kong about these new restrictions and their potential impact. We discuss:
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Fang Xue is a partner and Chief Representative in the Beijing office of Gibson, Dunn & Crutcher. Ms. Xue has represented Chinese and international corporations and private equity funds in cross-border acquisitions, private equity transactions, stock and asset transactions, joint ventures, going private transactions, tender offers and venture capital transactions, including many landmark deals among those. She also advises clients on corporate, compliance, export control and international trade related matters.
Judith Alison Lee is a partner in the Washington, D.C. office of Gibson, Dunn & Crutcher and Co-Chair of the firm’s International Trade Practice Group. Ms. Lee practices in the areas of international trade regulation, including USA Patriot Act compliance, Foreign Corrupt Practices Act, economic sanctions and embargoes and export controls. Ms. Lee also advises on issues relating to virtual and digital currencies, blockchain technologies and distributed cryptoledgers.
Stephenie Gosnell Handler is a partner in the Washington, D.C. office of Gibson, Dunn & Crutcher, where she advises clients on complex legal, regulatory, and compliance issues relating to international trade, cybersecurity and technology matters. Ms. Handler has prior experience advising clients on diverse global cybersecurity and technology matters, including strategic legal issues, data localization, regulatory compliance, risk management, governance, preparedness and data and export control and sanctions requirements.
David A. Wolber is a Registered Foreign Lawyer (New York) in Hong Kong and of counsel in the Hong Kong office of Gibson, Dunn & Crutcher. Mr. Wolber’s practice focuses on navigating complex legal, compliance, reputational, political and other risks arising out of various international trade, national security and financial crime laws and regulations. He advises clients on economic and trade sanctions, export controls, foreign direct investment controls/CFIUS, anti-money laundering and anti-bribery and anti-corruption laws and regulations.
Chris R. Mullen is an associate in the Washington, D.C. office of Gibson, Dunn & Crutcher. Mr. Mullen’s practice focuses on international trade and investment. He has experience on a range of matters, including navigating export controls under the ITAR and EAR, global economic sanctions, anti-money laundering regulations, CFIUS review and FCPA compliance. He has also advised companies on international trade matters related to corporate mergers and acquisitions and compliance with anti-money laundering obligations at the state and federal levels.
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