On October 28, 2024, the U.S. Department of the Treasury finalized a rule for an outbound investment security program, effective January 2, 2025. It prohibits certain investments in China, particularly in advanced semiconductors, quantum technologies, and AI. Notifications to the government are required for other investments. U.S. persons, including citizens and entities, must ensure compliance, with executive authority individuals facing specific obligations. The rule outlines covered transactions and foreign persons while detailing exceptions, penalties, and enforcement measures. The impact of the rule remains uncertain, raising concerns about its effects on U.S. competitiveness and China’s technological advancement.