I'm not saying the COMPETES Act is good or bad, just that it's going to reshape the China problem a bit.
And for those itching to downvote me: the Chinese people are fine folks. the CCP is a helluva problem.
I mean, sure, because Americans keep voting to defund public higher ed.
I think your framing as "agents" is a bit sensationalized. You're evoking images of these highly-trained spies willing to do anything to steal for their country. My expectation is that most folks are just regular-Joe type people who just want a good education, but are pressured by their government to pass back certain kinds of information (with under-specified by scary consequences for their family if they don't comply). I have a lot of sympathy for the people who get caught up in this situation. They're people who are trapped in a way that requires them to pay a higher (moral) price to obtain a good education. I'm not sure I'd have the strength to behave any differently if I were in their shoes.
(Also consider that the US's industrialization was fueled by plenty of academic and industrial espionage. That doesn't make what goes on today ok, but let's not pretend our historical hands are clean.)