Legislation to curb US investment in China will be reintroduced in Congress, the chair of the House of Representatives' select committee on China said on Tuesday, adding that the bill's failure to pass into law last year was not due to opposition from billionaire Elon Musk.

Lawmakers from both parties have criticized large American providers of investment mutual funds that track stock indexes for directing billions of US dollars from investors into stocks of Chinese companies that the US believes are facilitating the development of China's military.

Some Democratic lawmakers in December accused certain Republicans of protecting Musk's business interests in China by scrapping provisions in a US funding bill that would have prohibited Americans from making such investments in strategic sectors, such as certain AI systems and semiconductors.

Musk, a close ally of President Donald Trump and the chief executive of electric car maker Tesla, which has extensive business operations in China, helped lead opposition online to the government funding bill last year that would have included the investment restrictions. The investment measures were ultimately dropped from the bill, though it isn't clear if Musk specifically opposed them.