The executive order along with anti-China moves by lawmakers and agencies means the overall policy is unclear and riddled with landmines. "It will be very important to monitor how this executive order is being received in Congress." The executive order affects venture funds and private equity firms that invest in Chinese companies in semiconductors and microelectronics, quantum information technologies and artificial intelligence. MORE RESTRICTIONSSome of the investors said the administration's approach in framing the executive order had been more consultative. U.S. Representative Maxine Waters, Biden's fellow Democrat, said on Friday the executive order and rulemaking on outbound investment must be "broadened and strengthened."

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Persons: Florence Lo, Biden, Anthony Rapa, Blank, Blackrock, MSCI, Maxine Waters, Paritosh Bansal, Andrea Shalal, Laura Matthews, Anna Driver Organizations: REUTERS, Fund, Investors, Blackrock, U.S, Chinese Communist Party, The, Vanguard, Morningstar, Blackrock's, Reuters Graphics Reuters, Thomson Locations: China, U.S, Beijing, Washington, MSCI, New York