US issues first outbound investment fine over Chinese robotics AI deal

The US Treasury on Wednesday announced its first penalty under rules governing American investment in sensitive Chinese technologies, revealing a US$200,000 fine against the parent of Plug and Play Tech Centre for failing to report an investment in a Shanghai robotics AI company. The Treasury said on Wednesday that Amidi, LLC failed to submit a required notification after its Chinese fund subsidiary invested around US$92,478 in Shanghai Qiongche Intelligent Technology Company Limited, known as...