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Some U.S. investments in artificial intelligence, semiconductors and quantum computing will be blocked for national security reasons under a new rule the Biden administration finalized Monday.

The last rule implemented by a person executive order President Biden is creating a new program, signed in August 2023, that bans U.S. investors from making certain investments in those sectors in China that could help Beijing’s military development. They must also disclose other investments in these technologies in China to the U.S. government, according to a Treasury Department announcement.

The administration has sought input from external stakeholders and U.S. allies over the past year as it finalizes the order, which includes more detailed information about the technologies it applies to and what information Americans must disclose to the Treasury as part of the program.

A senior Biden administration official described the final rule as “focused on national security and covered to address specific risks posed by certain U.S. investments going into China.” “This continues our long-standing commitment to open investment,” the official added.

The rule will apply to a variety of transactions, including new investments, corporate expansions and joint ventures, but also includes exceptions such as publicly traded securities and certain limited partner investments. Giving an example, the official said that under the rule, a US company would be prevented from purchasing land in China to develop a quantum research facility.

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The policy will go into effect on January 2, 2025, days before Biden leaves office. This policy falls under the Congressional Review Act, which allows Congress to overturn federal agency regulations, but the policy has bipartisan support and would likely survive under a Republican-controlled Congress or administration.

Members of Congress have attempted to pass legislation that would permanently restrict investment in high-tech sectors in China, but ongoing disputes have prevented such legislation from being passed. House Republicans are currently negotiating a compromise that would satisfy Republicans like House Financial Services Committee Chairman Patrick McHenry, who opposes proposals that would create an industry-based approach and prefers a narrower sanctions-based measure.

McHenry told reporters Friday that lawmakers closer to compromise It was higher than a few months ago, and they weren’t ruling out passing a bill during the lame duck session.

“We don’t need to be like China” to gain the upper hand over Beijing, he said. “We are a country of rule of law. “We need a resilient regime and it needs to be transparent to investors.”