(Image credit: Getty Images) China is considering a major expansion of its technology export restrictions that could cover advanced AI models, training data, and overseas acquisitions of strategically important technology companies, reports the Financial Times. In addition, the Chinese government is mulling over prohibiting local chip designers from making their chips at TSMC and other foreign chipmakers. Go deeper with TH Premium: AI and data centers The measures would be designed to keep leading-edge AI developments in China as competition with the U.S. in frontier AI and hardware intensifies, but at the same time, they would slow down expansions of Chinese AI standards globally, which generally weakens the country's position. China's Ministry of Commerce (MofCom) has consulted domestic AI and semiconductor companies about ways to keep critical technologies from transferring abroad or falling under Western control, reports Financial Times citing two people familiar with the talks.…