This legislation aims to restrict United States financial transactions that support certain companies within the People's Republic of China. It specifically prohibits U.S. persons from purchasing or selling publicly traded securities issued by companies determined to operate in China's defense, related materiel, or surveillance technology sectors, or those owned or controlled by such entities. This prohibition also extends to supporting or servicing these transactions and any attempts to evade them. A key provision of the bill requires the Secretary of the Treasury to expand the Non-Specially Designated Nationals Chinese Military-Industrial Complex Companies List (NS-CMIC List) . This expansion will include any entity supporting the Chinese military-industrial complex, entities owned or controlled by them, successor entities, and those providing financial services to such companies. The bill further seeks to close sanctions loopholes by mandating that if sanctions are imposed on a Chinese entity under one statute or executive order, they must be applied under all other applicable ones. The President retains the authority to waive these sanctions for national security interests, provided Congress is notified and a report is submitted.