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China tech

Deal breaker? China nationalizes strategic tech with eye on US

Beijing takes control of 44 companies despite Washington pressure in trade talks

Meiya Pico, a Chinese digital forensics and cybersecurity company, has come under state control. (Photo from the company's website)

BEIJING -- China is taking throngs of high-tech companies under its wing to prepare for a protracted standoff with the U.S. despite calls from Washington to step back from the business sector.

The two countries signed a "phase one" trade deal Wednesday, but deferred thorny topics like intellectual property protections and Chinese state subsidies for a second round of negotiations expected to start soon. The nationalization of high-tech companies could become a potential roadblock in the so-called phase two talks.

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