Rephrase and rearrange the whole content into a news article. I want you to respond only in language English. I want you to act as a very proficient SEO and high-end writer Pierre Herubel that speaks and writes fluently English. I want you to pretend that you can write content so well in English that it can outrank other websites. Make sure there is zero plagiarism.:
In a significant development on Capitol Hill, a groundbreaking bill in the U.S. Senate is poised for its inaugural examination in Congress on Wednesday.
This legislation, strategically crafted to limit business ties with prominent Chinese biotech giants like BGI, WuXi AppTec, and others, citing national security concerns.
The draft legislation, primarily focused on safeguarding Americans’ personal health and genetic information from potential foreign threats, is set to undergo deliberation in a committee meeting, as reported by Reuters.
The outcome may involve revisions before advancing to a vote or further discussions, underscoring the gravity of the issues at hand.
The bill’s introduction last month triggered a significant sell-off in shares of WuXi AppTec, reflecting heightened investor concerns.
As currently outlined, the legislation seeks to prevent federal agencies from contracting with specific Chinese biotech entities, including BGI, MGI, Complete Genomics, WuXi AppTec, and their affiliates.
Additionally, it aims to halt government contracts with companies utilizing the equipment or services of these entities.
(Photo: NICHOLAS KAMM/AFP via Getty Images) A member of the Capitol police walks past the US Capitol in Washington, DC, on February 9, 2021.
Firms Allegedly Linked with Chinese Military
The upcoming Senate committee meeting introduces the potential for amendments, with one or more company names possibly being removed from the bill. Despite accusations, the implicated companies assert their innocence, vehemently denying any security threats.
An aide to Senator Gary Peters, the Homeland Security and Governmental Affairs Committee chair, expresses confidence in the bill’s progression, anticipating bipartisan support. A parallel bill introduced in the House in January leveled accusations against BGI, framing it as a national security threat through genetic data collection practices.
WuXi AppTec, implicated due to alleged ties to the Chinese military, rejects the proposed legislation as baseless. Rick Connell, WuXi AppTec’s Chief Operating Officer for the U.S. and Europe asserts the company’s confidence in dispelling concerns during the markup, emphasizing its role as a trusted global partner.
Read Also: Anthropic Unveils Claude 3: The ‘Rolls-Royce of AI Models’ Outshining GPT-4 and Gemini 1.0 Ultra
Both BGI Group and WuXi AppTec maintain their innocence, with BGI Group expressing support for the bill’s premise while cautioning that compliance could force them out of the U.S., limiting healthy competition.
The bill’s journey through committee deliberations is pivotal, necessitating subsequent approvals from the full Senate, the House, and the President, potentially reshaping biotech collaborations between the U.S. and China.
US Government Intensifies Scrutiny on Chinese Firms
In another development, a bipartisan coalition in the U.S. House of Representatives introduced a Tuesday bill citing national security concerns that compels China’s ByteDance to divest TikTok within six months or face a U.S. ban.
According to USA Today, the bill, which Rep. Mike Gallagher is leading and Rep. Raja Krishnamoorthi is supporting, aims to allay concerns about Chinese control over the well-known app and protect American users from potential digital surveillance and influence operations.
Rep. Gallagher emphasizes the incompatibility of a media platform tied to the Chinese Communist Party operating in the U.S. The proposed law mandates TikTok’s separation from ByteDance, threatening U.S. bans on web hosting services and app stores if compliance isn’t met.
In response, TikTok highlights the challenges in finding a suitable buyer and addressing technical intricacies within the 180-day timeframe.
Additionally, this month, the Biden administration launched an inquiry into Chinese-manufactured automobiles, citing security concerns that extend to cars from unspecified countries.
Emphasizing the extensive data collection by modern vehicles, the White House underscores potential security risks, including remote control or disablement, and the fears of foreign governments accessing sensitive data, as reported by TechTimes.
This cautious approach arises from concerns about potential exploitation by adversaries, marking a heightened vigilance towards national security interests.
Related Article: OpenAI Strikes Back, Exposing Elon Musk’s Alleged Tesla Merger Plan Through Revealed Past Emails
ⓒ 2024 TECHTIMES.com All rights reserved. Do not reproduce without permission.
I have over 10 years of experience in the cryptocurrency industry and I have been on the list of the top authors on LinkedIn for the past 5 years. I have a wealth of knowledge to share with my readers, and my goal is to help them navigate the ever-changing world of cryptocurrencies.
