Us Congress House Bill HB760

Us Congress 2023-2024 Regular Session

• Introduced: 2/2/23
• Refer: 2/2/23
• Report Pass: 9/20/23

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.