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This bill would empower the Treasury Secretary to block the Chinese government and Chinese state-controlled companies from accessing U.S. capital markets, stock exchanges, and other financial institutions if China fails to comply with international financial laws and rules. The restrictions would apply to a broad range of U.S. financial entities, including stock exchanges, banks, investment firms, brokerages, and commodity markets. The bill specifically targets China's compliance with international rules on debt succession, financial transparency and disclosure, and practices like discriminatory payments and selective default on obligations. The Treasury Secretary would make compliance determinations in consultation with the Committee on Foreign Investment in the United States. The legislation contains no specific funding requirements or implementation timeline beyond the Secretary's authority to enforce the restrictions once noncompliance is determined.

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