Us Congress 2023-2024 Regular Session

Us Congress House Bill HB760

Introduced
2/2/23  
Refer
2/2/23  

Caption

Chinese Military and Surveillance Company Sanctions Act of 2023

Impact

The bill mandates that the President must impose sanctions on identified companies operating in the military and surveillance sectors within 180 days of the bill’s passage. These sanctions aim to block transactions and prohibit financial dealings with these entities, thus preventing U.S. investments from supporting China's military ambitions. This move is considered a critical step in safeguarding American interests against perceived threats posed by Chinese technological advancements in military capacities.

Summary

House Bill 760, known as the Chinese Military and Surveillance Company Sanctions Act of 2023, aims to impose sanctions on companies linked to the military and surveillance sectors of the People's Republic of China. The bill responds to concerns that these companies, while appearing civilian, significantly contribute to the development and modernization of China's military and intelligence capabilities. Through this legislation, Congress seeks to enhance efforts to limit Chinese companies' financial avenues and strengthen U.S. national security.

Contention

One of the notable points of contention surrounds the scope and effectiveness of the sanctions outlined in the bill. Critics may argue that while this legislation addresses publicly traded securities, it may not fully account for alternative financing methods that Chinese companies could exploit. Furthermore, there are concerns regarding the proportionality of the sanctions and their potential to strain U.S.-China relations, which could impact other areas, including trade and diplomacy.

Companion Bills

No companion bills found.

Previously Filed As

US SB5571

A bill to impose sanctions with respect to foreign persons that knowingly engage in significant operations in the defense and related materiel sector or the surveillance technology sector of the economy of the People's Republic of China, and for other purposes.

US HB4658

STOP CCP Act of 2023 Sanction Transactions Originating from Pernicious Chinese Companies and Policies Act of 2023

US HR104

Condemning the Chinese Communist Party's use of a high-altitude surveillance balloon over United States territory as a brazen violation of United States sovereignty.

US HB1081

ANTI-SOCIAL CCP Act Averting the National Threat of Internet Surveillance, Oppressive Censorship and Influence, and Algorithmic Learning by the Chinese Communist Party Act

US SB852

STOP CCP Act of 2023 Sanction Transactions Originating from Pernicious Chinese Companies and Policies Act of 2023

US HB2372

STAND with Taiwan Act of 2023 Sanctions Targeting Aggressors of Neighboring Democracies with Taiwan Act of 2023

US HB804

Chinese CBDC Prohibition Act of 2023

US SB69

Public Investments; to prohibit Board of Control of ERSA and TRSA from investing with restricted entities affiliated with Communist Chinese military companies

US HB499

Securing American Families and Enterprises from People's Republic of China Investments Act or the SAFE from PRC Investments Act This bill requires certain issuers of securities and funds traded on an exchange to report on connections to China or the Communist Party of China. In particular, an issuer with specified connections to China must annually disclose a variety of details, including whether executive-level employees, senior directors, or board members are members of the Communist Party of China; interactions with the party; expenditures in China; expenditures in the United States regarding operations and lobbying activities; and the ability of the Public Company Accounting Oversight Board to audit the issuer. Additionally, an exchange-traded fund that invests in a Chinese company must annually disclose about that company ownership information, party involvement, whether the company participates in specified Chinese policies or activities, any ties to U.S.-sanctioned individuals, and the types of products or services produced by the company.

US SB5244

PRC Military and Human Rights Capital Markets Sanctions Act of 2024

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