The John S. McCain National Defense Authorization Act, which must also be approved by the Senate, passed the House by a vote of 359-54. While the measure puts controls on U.S. government contracts with ZTE Corp and Huawei Technologies Co Ltd because of national security concerns, the restrictions are far weaker than initially drafted.
“As China continues to challenge United States hegemony, it is imperative that our institutions of higher education collaborate effectively with” the government to “ensure that sensitive, academic-rooted R&D is protected and is not being exported to near-peer competitors,” U.S. Sen. John Cornyn, R-Texas, and six of his colleagues said in a July 18 letter to the House and Senate Armed Services committees advocating for the change.
"Foreign economic and industrial espionage against the United States continues to represent a significant threat to America's prosperity, security and competitive advantage," the National Counterintelligence and Security Center said. "China, Russia and Iran stand out as three of the most capable and active cyber actors tied to economic espionage and the potential theft of U.S. trade secrets and proprietary information."
For the first time, the Chinese venture capital (VC) market has surpassed the U.S. VC market in total dollars invested in Q2 of 2018, according to Crunchbase. Driven by mega rounds and strong corporate VC, Chinese startups were able to raise more VC money in Q2’18 than their American counterparts.
China continues to steal intellectual property and trade secrets from U.S. companies for its own economic advancement and the development of its military but “at lower volumes” since the two countries forged an agreement in 2015 meant to curb the practice, according to a report published Thursday by American intelligence agencies.
With more than one million international students studying in the United States, some worry that intellectual property developed here is being stolen. NBC’s senior investigative correspondent Cynthia McFadden travels to China and to Duke University to investigate a case where a professor, who invented special invisibility technology, learned his Chinese grad student walked out the door with his research.
U.S. Senate and House negotiators reached agreement on Monday on a $716 billion defense policy bill, which includes provisions on tightening foreign investment scrutiny and telecommunications security in addition to authorizing military funding.
Meet the man dubbed China's Elon Musk, Ruopeng Liu. Like Musk, he's working on sending people into space, and has already sent them flying. He's the man behind jet-powered surfboards, and is a multi-billionaire at just 35 years old. "We call ourselves the future studio," said Liu during an NBC News visit to his company's headquarters here. "We design the future." But is he guilty of stealing the intellectual property of a famous American scientist?
As China’s wealth has grown, so has its sophistication at currying favor in Washington and among the American elite. Both the Chinese government and Chinese companies, often with close state ties, have retained lobbying and public-relations firms in the Beltway, in some cases hiring former U.S. officials as personal lobbyists.
“You only ignore China now at your peril,” said Gary Rieschel, founding managing partner of Qiming Venture Partners, and an investor with two decades of experience in China. “What’s going to happen when China innovation goes around the world? U.S. firms are going to struggle with that if they don’t have a good handle on it.”