Any satellite that wants a license to communicate with ground stations in the US already needs a license from the FCC regardless of who owns and launches it. While some Chinese military and scientific satellites may not have any reason to do so, any future commercial large constellations will probably want licenses to operate in as many places as possible.
It’s likely and desirable that more countries adopt these ore similar rules. The more countries that do, the more incentive for operators to comply with these rules.
Obviously getting China to buy into rules like this would be ideal, but even if they don’t this has the potential to make a big difference in the total quantity of LEO space junk.
