U.S. Treasury Issues First Fine Over Outbound Investments in China Tech

The U.S. Treasury Department issued its first penalty under an outbound investment restriction program targeting China's tech sector. California real estate company Amidi Group, parent of startup accelerator Plug and Play Tech Center, was fined $200,000.

• First fine under U.S. outbound investment restrictions on China tech
• California-based Amidi Group fined $200,000
• Amidi is the parent company of accelerator Plug and Play Tech Center