Private equity firms pledge to be China-free as U.S. tightens rules

33 firms sign on to bipartisan-backed initiative ahead of key Congress vote

20241219 Private equity funds

Some private equity funds are vowing to steer clear of China as the U.S. government tightens restrictions on investment in the country. (Nikkei montage/Source photos by Reuters, AP and Akira Kodaka)

PAK YIU, Nikkei staff writer

NEW YORK -- More than two dozen private equity firms have promised not to invest in entities based in China and Hong Kong, amid growing urgency in Washington to restrict capital investments into Chinese sectors that could threaten U.S. national security.

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