The order may still prohibit U.S. investments in at least one Chinese industry - advanced semiconductors - but will likely not block money from flowing to other parts of China’s high-tech economy.

The order is now expected to largely require U.S. firms to notify federal authorities when doing deals in industries like quantum computing and artificial intelligence, though some other investment prohibitions are being debated.

Though the final order is still in flux, the administration is likely to set up a pilot program under which US firms doing new deals with Chinese artificial intelligence and quantum computing firms would have to disclose details to government authorities.

The debate will now turn to the Senate, where the Banking Committee will hold a hearing Tuesday on sanctions, export controls and “other tools” like outbound investment screening.