U.S. Bill Targets Mutual Fund Investments in Chinese Firms

(Bloomberg) — U.S. mutual funds wouldn’t be able to invest in some products that track Chinese stock indexes under a new bill in Congress.

The measure, which still faces major hurdles to becoming law, is among the most aggressive salvos yet by American lawmakers targeting investments in China. It’s one of several introduced on Wednesday by Victoria Spartz, an Indiana Republican, and Brad Sherman, a California Democrat, that go after companies from countries the pair says undermine U.S. interests.