US investors fund Chinese chip startups

US Senators Bob Casey (D., Pa.) and John Cornyn (R., Texas) have proposed legislation that would require government oversight of outbound US investments, a move opposed by the US Chamber of Commerce and the US-China Business Council. As US policies have made it harder for some Chinese companies to purchase American chips, the Beijing government has funded domestic startups to try to fill the gap. That government support makes the startups attractive investments, analysts told The Wall Street Journal.