This bill requires the U.S. Treasury Department to add Chinese military companies to its Non-SDN Chinese Military-Industrial Complex Companies List (NS-CMIC List) within 90 days of being identified by the Department of Defense. Once added to the list, investment restrictions from Executive Order 13959 would apply to these companies within 60 days, effectively prohibiting most U.S. persons and investors from purchasing their securities. The legislation includes a one-year divestment window allowing Americans to sell securities they already own in these companies. The bill aims to prevent U.S. capital from funding Chinese military modernization through securities investments on American exchanges, closing a gap where Chinese military-linked companies can still raise money from U.S. investors even as the Defense Department is barred from directly purchasing their products and services starting in 2026.
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