特朗普禁止接触美国科技，中国资金逃离硅谷 [美国媒体]

Thanks to new policies from the Trump administration aimed at cracking down at Beijing's access to strategic US technologies, China has all but halted investments in US-based tech startups, according to Reuters.

据路透社报道，由于特朗普政府出台了旨在打击北京获取美国战略技术的新政策，中国几乎停止了对美国科技创业公司的投资。

Venture funding out of China peaked last year at a record $3 billion according to the Rhodium Group, a New York economic research firm. The spike in capital is thought to have been spurred by investors and tech companies rushing to complete deals before the new regulatory measures were approved in August.

根据纽约经济研究公司荣鼎集团的数据，去年中国的风险投资达到了创纪录的30亿美元。 投资者和科技公司争相在8月份新的监管措施获得批准之前完成交易，据信刺激了资本金的飙升。

Following the new policies which have expanded the government's ability to block foreign investment in US companies, Chinese venture funding has all but collapsed according to Reuters, which interviewed over 35 industry players.

路透社在采访了超过35家行业参与者后表示，随着新政扩大了政府阻止外国投资美国公司的能力，中国的风险投资几乎崩溃。

The new rules are still being finalized, but tech industry veterans said the fallout has been swift.

新规定仍在最后敲定之中，但技术行业的资深人士表示，影响很快就会显现。

“Deals involving Chinese companies and Chinese buyers and Chinese investors have virtually stopped,” said attorney Nell O’Donnell, who has represented U.S. tech companies in transactions with foreign buyers.

"涉及中国公司、中国买家和中国投资者的交易实际上已经停止,"代表美国科技公司与外国买家交易的律师内尔 · 奥唐奈(Nell O'Donnell)说。

Lawyers who spoke to Reuters say they are feverishly rewriting deal terms to help ensure investments get the stamp of approval from Washington. Chinese investors, including big family offices, have walked away from transactions and stopped taking meetings with U.S. startups. Some entrepreneurs, meanwhile, are eschewing Chinese money, fearful of lengthy government reviews that could sap their resources and momentum in an arena where speed to market is critical. -Reuters

接受路透社采访的律师表示，他们正在积极修改交易条款，以确保投资获得华盛顿的批准。 包括大型家族理财室在内的中国投资者已经放弃了交易，并停止与美国创业公司的会面。 与此同时，一些企业家避开了中国的资金，担心冗长的政府审查会耗尽他们的资源和动力，因为在这个竞技场上，快速进入市场是至关重要的。

US startups have also become cautious according to the report. San Francisco-based AI-powered training manual company Volley Labs, for example, declined offers from Chinese investors last year after initially accepting money from Beijing-based TAL Education Group amid a 2017 financing round.

报告显示，美国的初创企业也变得谨慎起来。 例如，总部位于旧金山的人工智能动力培训公司沃利实验室去年拒绝了中国投资者的报价，原因是在2017年一轮融资中，它最初接受了总部位于北京的TAL教育集团的资金。

"We decided for optical reasons it just wouldn’t make sense to expose ourselves further to investors coming from a country where there is now so much by way of trade tensions and IP tensions," said Volley CEO Carson Kahn.

该公司首席执行官卡森•卡恩表示:"由于看到的原因，我们认为，向来自中国的投资者进一步展示自己是没有意义的。目前存在这么多的贸易和知识产权紧张局势。"。

Meanwhile a Silicon Valley VC told Reuters that he is aware of at least ten deals - some of which he is exposed to, which fell apart since they would require approval from the Committee on Foreign Investment in the United States (CFIUS) - the regulatory body which rubber-stamped the controversial Uranium One deal.

与此同时，一位硅谷风险投资家告诉路透社，他知道至少有10笔交易——其中一些是他接触过的，但最终都以失败告终，因为这些交易需要得到美国外国投资委员会的批准——该监管机构在有争议的铀壹交易上盖了章。

CFIUS is the government group tasked with reviewing foreign investment for potential national security and competitive risks. The new legislation expands its powers. Among them: the ability to probe transactions previously excluded from its purview, including attempts by foreigners to purchase minority stakes in U.S. startups. -Reuters

美国外国投资委员会是负责审查潜在国家安全和竞争风险的外国投资的政府机构。 新的立法扩大了它的权力。 其中包括: 能够调查以前被排除在其权限之外的交易，包括外国人试图购买美国创业公司的少数股权。

China has been an aggressive investor in technology considered critical to US global competitiveness and military capabilities. Chinese investors have also been heavy investors in ride-hailing forms Uber and Lyft, along with companies that have more sensitive tech such as data center networking firm Barefoot Networks, speech recognition startup AISense and self-driving vehicle startup Zoox.

在被认为对美国的全球竞争力和军事能力至关重要的技术领域，中国一直是一个积极的投资者。 中国的投资者也是打车软件Uber 和 Lyft 的重量级投资者，还有一些拥有更敏感技术的公司，比如数据中心网络公司Barefoot Networks、语音识别创业公司 AISense 和无人驾驶汽车创业公司 Zoox。

The withdrawal of Chinese money from Silicon Valley is unlikely to make a dent in the ability of startups to raise capital, as investors worldwide allocated some $84 billion into US startups during the first three quarters of 2017 - exceeding any prior full-year funding, according to data provider PitchBook.

数据提供商PitchBook 的数据显示，中国从硅谷撤资不太可能削弱初创企业的融资能力，因为全球投资者在2017年前三个季度向美国初创企业投资了约840亿美元，超过了以往任何一年的融资额度。

That said, Chinese funding is also a pathway for US tech companies to gain access to the world's second-largest economy, which will deprive startups of much needed revenue.

尽管如此，中国的融资也是美国科技公司进入世界第二大经济体的一个途径，这将使创业公司失去急需的收入。

"Those of us who are operators and entrepreneurs feel the brunt of these tensions," said Kahn.

"我们这些经营者和企业家感受到了这些紧张局势的冲击,"卡恩表示。

The decline in Chinese investment comes amid heightened tensions between Beijing and Washington. Trump has blasted China for its enormous trade surplus and for what he claims are its underhanded strategies to obtain leading-edge American technology.

中国投资下降之际，北京和华盛顿之间的紧张关系正在加剧。 特朗普抨击中国巨大的贸易顺差，以及中国为获得美国前沿技术而采取的卑鄙策略。

The nations have already levied billions in tariffs on each other’s goods. And Trump is considering an executive order to bar U.S. companies from using telecommunications equipment made by China’s Huawei and ZTE, which the U.S. government has accused of spying. -Reuters

两国已经对彼此的商品征收了数十亿美元的关税。 特朗普正在考虑一项行政命令，禁止美国公司使用中国华为和中兴制造的电信设备。美国政府指控华为和中兴从事间谍活动。

The CFIUS, meanwhile, has emerged as a powerful tool for the Trump administration to intervene in foreign deals in the United States. Operated out of the US Treasury, the panel includes members from eight other government entities, including Homeland Security, the State Department and the Department of Defense. In its current annual report, the CFIUS said that Chinese investors had made 74 filings from 2013 through 2015 - the most of any country.

与此同时，CFIUS已经成为特朗普政府干预外国在美交易的有力工具。 该委员会由美国财政部运作，其成员来自其他八个政府机构，包括国土安全部、国务院和国防部。 美国外国投资委员会在其目前的年度报告中表示，从2013年到2015年，中国投资者共提交了74份申请，是所有国家中最多的。

Washington, meanwhile, is also clamping down on Chinese investments. In March President Trump blocked a $117 billion hostible bid by Singapore-based Broadcom to acquire San Diego-based Qualcomm after the CFIUS said the takeover would weaken America's wireless technology advantage.

与此同时，华盛顿也在限制中国的投资。 今年3月，特朗普总统否决了新加坡博通以1170亿美元收购总部位于圣地亚哥的高通的交易，此前美国我该投资委员会表示，这项收购将削弱美国的无线技术优势。

And in November the CFIUS introduced a pilot program which requires foreign investors to notify the committee of any investments in "critical technologies" - the scope of which is still being defined. A working list, however, includes logistics technology, artificial intelligence, robotics and data analysis.

去年11月，美国外国投资委员会推出了一项试点计划，要求外国投资者向委员会通报在"关键技术"方面的任何投资——其范围仍在确定之中。 然而，一份工作清单包括物流技术、人工智能、机器人技术和数据分析。

"What we are concerned about is a limited number of bad actors who are phenomenally clever about how they can access our intellectual property," said VC Bob Ackerman, founder of San-Francisco and Maryland-based AllegisCyber.

总部位于旧金山和马里兰州的 allegis cyber创始人、风险投资家鲍勃•阿克曼表示:"我们担心的是，在如何获取我们的知识产权方面非常聪明的坏人数量有限。"。

Research firm Rhodium, meanwhile, said that an average of 21% of Chinese venture in the US from 2000 through 2017 came from state-owned funds, which are at least partially controlled by the Chinese government. In 2018, that figure spiked to 41 percent.

与此同时，研究公司荣鼎咨询表示，从2000年到2017年，中国在美国的合资企业平均有21% 来自国有基金，这些基金至少部分由中国政府控制。 2018年，这一数字飙升至41% 。

Two industry veterans, a startup adviser and a venture capitalist who declined to be identified because of the sensitivity of the matter, told Reuters they were recently cautioned by the FBI not to pursue deals with Chinese investors. The two people did not name the Chinese entities of interest to the FBI, but said the deals concerned U.S. companies building artificial intelligence and autonomous driving technologies.

两名行业资深人士，一名创业顾问和一名风险投资家告诉路透社，FBI 最近警告他们不要与中国投资者进行交易。 这两个人没有说出 FBI感兴趣的中国实体的名字，但表示，这些交易涉及美国公司开发人工智能和自动驾驶技术。

Whether any of this deters China from reaching its goal of dominating advanced technologies remains to be seen. China can still invest in U.S. technology through layers of funds that obscure the money source. And Chinese investors are redirecting funds to promising companies in Southeast Asia and Latin America. -Reuters

这些因素是否会阻碍中国实现其主导先进技术的目标，还有待观察。 中国仍然可以通过隐藏资金来源的资金层来投资美国的技术。 中国投资者正将资金转向东南亚和拉丁美洲有前途的公司。

In response to the clampdown, US startups are now writing deals in a way which would avoid CFIUS reviews - in particular, by adding provisions which would prevent foreign investors from obtaining proprietary technical data, as well as handcuffing their rights when it comes to board seats, veto rights or additional equity for future investment rounds.

作为对这一限制的回应，美国初创企业目前正以避免CFIUS审查的方式进行交易——尤其是增加一些条款，禁止外国投资者获取自营技术数据，以及在未来几轮投资中获得董事会席位、否决权或额外股权时限制他们的权利。

According to Jeff Farrah, general counsel of the National Venture Capital Association, "People are rightfully concerned about making sure they are on the safe side of the fence."

美国国家风险投资协会法律总顾问杰夫•法拉表示:"人们有理由担心自己的安全。"

navy62802
Housing crash to follow.

接下来是住房危机。

Big Fat Bastard
Already happening. And it's good news.Santa Clara, CA Housing Prices Crater 32% Year Over YearCalifornia housing demand already collapsed because of high prices. Can you imagine if borrowers asked for double or triple? ;)

已经发生了。这是个好消息。加利福尼亚州圣克拉拉市房价同比暴跌32%。加州的住房需求已经因为高房价而暴跌。你能想象借款人要双倍或三倍吗？；）

koan
Interesting that Silicon Valley takes so much Commie money while instituting first speech oppression and censorship on their "platforms".

有趣的是，硅谷在其“平台”上实施第一次言论压制和审查制度的同时，却花费了如此多的镰刀斧头主义的资金。

BC1776
Interesting isn't it. Tyrants hand together it seems. This sounds like good news. **** the communist Chinese and their war with the US, yes a war. Their goal is to replace the US as the global superpower and force their ideology on the rest of the world.

很有趣，不是吗？看来暴君们手拉手了。这听起来是个好消息。中国及其与美国的战争，是的，是一场战争。他们的目标是取代美国成为全球超级强国把他们的意识形态强加于世界其他地方。

koan
Do you remember the 80's and 90's when people were saying "don't buy Japanese and don't buy Chinese".

你还记得80年代和90年代人们说“不要买日本产品，也不要买中国产品”的时候吗？

romanmoment
I have worked in technology for three decades including in Silicon Valley, the Chinese are thieves and it's about time we started taking it seriously. Hold fast.

我在科技领域工作了三十年，包括在硅谷，中国人是小偷，现在是我们开始认真对待它的时候了。抓紧。

Let it Go
In general China has little intention of altering its course and will concede nothing in future trade talks. China is a state-run economy based on a business model that is geared to expand by crushing the competition.

总的来说，中国无意改变其进程，在未来的贸易谈判中不会让步。中国是一个以商业模式为基础的国营经济体，这种商业模式旨在通过压制竞争来扩张。

Subsidizing those companies working within its system in a multitude of ways helps China achieve this goal. Countries that export goods at slightly below cost in exchange for manufacturing jobs are not stupid they are predatory and we in America are their prey.

以多种方式资助那些在其体系内工作的公司有助于中国实现这一目标。以略低于成本的价格出口商品以换取制造业工作的国家并不愚蠢，它们是掠夺性的，而我们在美国是它们的猎物。

mkhs
No more General Tso's chicken?

再也没有左宗棠鸡了？

He–Mene Mox Mox
Innovation died in America back in the 2001-2005. Not much innovation coming out of Silicon Valley, or anywhere else in America these days. Its all been reduced to the game of companies takeover each other and pirating technology.

2001-2005年，创新在美国消亡。如今硅谷或美国其他地方的创新并不多。这一切都归结为公司相互收购和盗版技术的游戏。

Texman
No more stealing of tech so no reason to 'invest'...Sort of like how donations to the Clinton Foundation ended when the pot of gold at the end of the rainbow was removed for donors...

没有更多的技术窃取，所以没有理由“投资”……就像当克林顿基金会捐赠给捐赠者的时候，彩虹尽头的金子被移除了。

floydbankfine
this must mean we're now behind and starting to reverse engineer their stuff.

这一定意味着我们现在落后了，开始对他们的产品进行逆向工程。

philipat
China, like many developing nations, requires technology transfer as part of an investment approval. And it has a sovereign right to set its own terms. Nobody is FORCED to invest in China and if investors dont like it they can simply walk away?

中国和许多发展中国家一样，要求技术转让作为投资审批的一部分。它有权制定自己的条款。没有人被迫在中国投资，如果投资者不喜欢，他们可以直接离开？
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