Ban on investments in Chinese defense and surveillance technology companies.
This Act prohibits US persons (citizens and entities) from buying or selling publicly traded securities issued by Chinese entities operating in the defense, military, or surveillance technology sectors. This means your investment, retirement, or personal brokerage accounts will be restricted from transacting with these specific Chinese companies. The law also expands the list of sanctioned entities to more effectively close legal loopholes.
Key points
Investment Restrictions: US persons are prohibited from purchasing or selling securities of Chinese companies determined to be involved in the defense or surveillance technology sectors.
Sanctions List Expansion: The US government must expand the Non-Specially Designated Nationals Chinese Military-Industrial Complex Companies List (NS-CMIC List) to include entities supporting the Chinese military-industrial complex and those providing financial services to them.
Closing Loopholes: If sanctions are imposed on a Chinese entity under one statute, they must be automatically imposed under all other applicable statutes, unless the US President grants a national security waiver.
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