,,ii  #aagth ,,congress  #b;d ,session  
,s4 #cebf  ,,in ,,the ,,senate ,,of     
,,the ,,united ,,states  ,january #ai   
7legislative day1 ,january #ah71        
#bjbb,mr4 ,sullivan introduced the      
following bill2 which was read twice and
 referred to the ,committee on ,banking1
 ,housing1 and ,urban ,affairs  ,a      
,,bill  ,to require the imposition of   
sanctions with respect to the ,people's 
,republic of ,china if the ,people's    
,liberation ,army initiates a military  
invasion of ,taiwan1 and for other      
purposes4  #a4 ,short title2 table of   
contents  7a7 ,short title ,this ,act   
may be cited as the ,sanctions          
,targeting ,aggressors of ,neighboring  
,democracies with ,taiwan ,act of #bjbb 
or the ,,stand with ,taiwan ,act of     
#bjbb4  7b7 ,table of contents ,the     
table of contents for this ,act is as   
follows3 ,sec4 #a4 ,short title2 table  
of contents4,sec4 #b4 ,findings4,sec4   
#c4 ,sense of ,congress4,sec4 #d4       
,statement of policy4,sec4 #e4          

,definitions4,sec4 #f4 ,determination of
 the initiation of a military invasion  
by the ,people's ,liberation ,army or   
its proxies4,sec4 #g4 ,imposition of    
sanctions with respect to members of the
 ,chinese ,communist ,party4,sec4 #h4   
,imposition of sanctions with respect to
 financial institutions affiliated with 
the ,chinese ,communist ,party4,sec4 #i4
 ,imposition of sanctions with respect  
to entities owned by or affiliated with 
the ,chinese ,communist ,party4,sec4    
#aj4 ,prohibition on transfers of funds 
involving the ,people's ,republic of    
,china4,sec4 #aa4 ,prohibition on       
listing or trading of ,chinese entities 
on ,united ,states securities           
exchanges4,sec4 #ab4 ,prohibition on    
investments by ,united ,states financial
 institutions that benefit the ,chinese 
,communist ,party4,sec4 #ac4            
,prohibition on importation of certain  
goods made in the ,people's ,republic of
 ,china4,sec4 #ad4 ,exceptions2         
waiver4,sec4 #ae4 ,implementation2      

penalties4  #b4 ,findings ,congress     
makes the following findings3 7#a7      
,taiwan is a free and prosperous        
democracy of nearly #bd1jjj1jjj people1 
an important contributor to peace and   
stability around the world1 and         
continues to embody and promote         
democratic values1 freedom1 and human   
rights in ,asia4  7#b7 ,the policy of   
the ,united ,states toward ,taiwan is   
guided by the ,taiwan ,relations ,act   
7#bb ,u4,s4,c4 #ccja et seq471 the      
,united ,states-,people's ,republic of  
,china joint communiqus concluded in    
#aigb1 #aigh1 and #aihb1 and the ,six   
,assurances that ,president ,ronald     
,reagan communicated to ,taiwan in      
#aihb4  7#c7 ,under section #b of the   
,taiwan ,relations ,act 7#bb ,u4,s4,c4  
#ccja71 it is the policy of the ,united 
,states-- 7,a7 to preserve and promote  
extensive1 close1 and friendly          
commercial1 cultural1 and other         
relations between the people of the     
,united ,states and the people on       

,taiwan1 as well as the people on the   
,china mainland and all other peoples of
 the ,western ,pacific area2  7,b7 to   
declare that peace and stability in the 
area are in the political1 security1 and
 economic interests of the ,united      
,states1 and are matters of             
international concern2  7,c7 to make    
clear that the ,united ,states decision 
to establish diplomatic relations with  
the ,people's ,republic of ,china rests 
upon the expectation that the future of 
,taiwan will be determined by peaceful  
means2  7,d7 to consider any effort to  
determine the future of ,taiwan by other
 than peaceful means1 including by      
boycotts or embargoes1 a threat to the  
peace and security of the ,western      
,pacific area and of grave concern to   
the ,united ,states2  7,e7 to provide   
,taiwan with arms of a defensive        
character2 and  7,f7 to maintain the    
capacity of the ,united ,states to      
resist any resort to force or other     
forms of coercion that would jeopardize 

the security1 or the social or economic 
system1 of the people on ,taiwan4  7#d7 
,since the election of ,president ,tsai 
,ing-wen as ,president of ,taiwan in    
#bjaf1 the ,chinese ,communist ,party   
has employed a variety of coercive      
military and nonmilitary tactics short  
of armed conflict in its efforts to     
exert existential pressure on ,taiwan1  
including through diplomatic isolation1 
restricting tourism1 cyberattacks1      
spreading disinformation1 and           
controlling the ability of ,taiwan to   
purchase ,,covid-#ai vaccines from other
 countries4  7#e7 ,in #bjba1 there was a
 notable increase in military           
provocations by the ,people's           
,liberation ,army against ,taiwan1      
including increased flights of military 
aircraft within ,taiwan's air defense   
identification zone1 holding military   
exercises in the vicinity of ,taiwan's  
controlled waters1 and performing       
live-fire exercises in the ,south ,china
 ,sea4  7#f7 ,in ,march #bjba1 then     

,commander of the ,united ,states       
,indo-,pacific ,command ,admiral ,philip
 ,davidson testified that the threat of 
a military invasion of ,taiwan by the   
,people's ,liberation ,army is manifest 
during this decade1 in fact in the next 
six years4  7#g7 ,in ,march #bjba1 then 
,commander of the ,united ,states       
,pacific ,fleet ,admiral ,john ,aquilino
 testified that the threat of a military
 invasion by the ,people's ,liberation  
,army of ,taiwan is much closer to us   
than most think and could materialize   
well before #bjce4  7#h7 ,in ,october   
#bjba1 ,president ,joseph ,r4 ,biden    
publicly affirmed that the ,united      
,states would come to the defense of    
,taiwan1 saying1 yes1 we have a         
commitment to do that4  7#i7 ,in        
addition to military power1 economic and
 financial instruments of ,united       
,states power and their potential use   
can have an important deterrent effect  
on the actions of other countries4  #c4 
,sense of ,congress ,it is the sense of 

,congress that-- 7#a7 it is in the      
interests of the ,united ,states to     
maintain a free and open ,indo-,pacific 
region1 with peace and stability in the 
,taiwan ,strait as a critical component2
  7#b7 efforts by the ,chinese          
,communist ,party to unilaterally       
determine the future of ,taiwan through 
non-peaceful means1 including threats   
and the direct use of force1 military   
coercion1 economic boycotts or          
embargoes1 and efforts to               
internationally isolate or annex        
,taiwan-- 7,a7 directly undermine the   
spirit1 intent1 and purpose of the      
,taiwan ,relations ,act 7#bb ,u4,s4,c4  
#ccja et seq472  7,b7 undermine peace   
and stability in the ,taiwan ,strait2   
7,c7 limit a free and open              
,indo-,pacific region2 and  7,d7 are of 
grave concern to the ,government of the 
,united ,states2  7#c7 the initiation of
 a military invasion of ,taiwan by the  
,people's ,liberation ,army would-- 7,a7
 disrupt the peace and stability of the 

region and threaten the peace and       
stability of the entire globe2 and  7,b7
 undermine core the political1 security1
 and economic interests of the ,united  
,states2 and  7#d7 as an important      
deterrent measure against a military    
invasion of ,taiwan1 the ,chinese       
,communist ,party must understand that  
initiating such an invasion will result 
in catastrophic economic and financial  
consequences for the ,people's ,republic
 of ,china4  #d4 ,statement of policy   
,the policy of the ,government of the   
,united ,states on ,taiwan is guided by 
the ,taiwan ,relations ,act 7#bb        
,u4,s4,c4 #ccja et seq471 the ,united   
,states-,people's ,republic of ,china   
joint communiqus concluded in #aigb1    
#aigh1 and #aihb1 and the ,six          
,assurances that ,president ,ronald     
,reagan communicated to ,taiwan in      
#aihb1 but in the event of the          
initiation of a military invasion of    
,taiwan by the ,people's ,liberation    
,army1 it is the policy of the ,united  

,states-- 7#a7 to use and deploy all    
economic1 commercial1 and financial     
instruments and levers of power1        
including-- 7,a7 the imposition of      
sanctions with respect to members of the
 ,chinese ,communist ,party and         
financial institutions and other        
entities affiliated with the ,chinese   
,communist ,party2  7,b7 prohibiting the
 listing or trading of the securities of
 ,chinese entities on ,united ,states   
securities exchanges2  7,c7 prohibiting 
investments by ,united ,states financial
 institutions in economic sectors of the
 ,people's ,republic of ,china2 and     
7,d7 prohibiting the importation of     
certain goods mined1 produced1 or       
manufactured in the ,people's ,republic 
of ,china into the ,united ,states2 and 
7#b7 to work in close coordination with 
allies and partners of the ,united      
,states to encourage those allies and   
partners to undertake similar economic1 
commercial1 and financial actions       
against the ,chinese ,communist ,party4 

#e4 ,definitions ,in this ,act3 7#a7    
,account2 correspondent account2        
payable-through account ,the terms      
account1 correspondent account1 and     
payable-through account have the        
meanings given those terms in section   
#ecah;,a of title #ca1 ,united ,states  
,code4  7#b7 ,admission2 admitted2 alien
 ,the terms admission1 admitted1 and    
alien have the meanings given those     
terms in section #aja of the            
,immigration and ,nationality ,act 7#h  
,u4,s4,c4 #aaja74  7#c7 ,appropriate    
congressional committees ,the term      
appropriate congressional committees    
means-- 7,a7 the ,committee on ,foreign 
,relations1 the ,committee on ,armed    
,services1 and the ,committee on        
,banking1 ,housing1 and ,urban ,affairs 
of the ,senate2 and  7,b7 the ,committee
 on ,foreign ,affairs1 the ,committee on
 ,armed ,services1 and the ,committee on
 ,financial ,services of the ,house of  
,representatives4  7#d7 ,covered        
determination ,the term covered         

determination has the meaning given that
 term in section #f7;a74  7#e7          
,financial institution ,the term        
financial institution means a financial 
institution specified in subparagraph   
7,a71 7,b71 7,c71 7,d71 7,e71 7,f71     
7,g71 7,h71 7,i71 7,j71 7,m71 or 7,y7 of
 section #ecab7;a77#b7 of title #ca1    
,united ,states ,code4  7#f7 ,foreign   
financial institution ,the term foreign 
financial institution has the meaning   
given that term in regulations          
prescribed by the ,secretary of the     
,treasury4  7#g7 ,foreign person ,the   
term foreign person means an individual 
or entity that is not a ,united ,states 
person4  7#h7 ,knowingly ,the term      
knowingly with respect to conduct1 a    
circumstance1 or a result1 means that a 
person had actual knowledge1 or should  
have known1 of the conduct1 the         
circumstance1 or the result4  7#i7      
,military invasion ,the term military   
invasion includes-- 7,a7 an amphibious  
landing or assault2  7,b7 an airborne   

operation or air assault2  7,c7 an      
aerial bombardment or blockade2  7,d7   
missile attacks1 including rockets1     
ballistic missiles1 cruise missiles1 and
 hypersonic missiles2 and  7,e7 a naval 
bombardment or blockade4  7#aj7 ,united 
states person ,the term ,united ,states 
person means-- 7,a7 a ,united ,states   
citizen or an alien lawfully admitted   
for permanent residence to the ,united  
,states2 or  7,b7 an entity organized   
under the laws of the ,united ,states or
 any jurisdiction within the ,united    
,states1 including a foreign branch of  
such an entity4  #f4 ,determination of  
the initiation of a military invasion by
 the ,people's ,liberation ,army or its 
proxies  7a7 ,covered determination     
defined ,in this ,act1 the term covered 
determination means-- 7#a7 a            
determination by the ,president1 not    
later than #bd hours after a military   
invasion of ,taiwan by the ,people's    
,liberation ,army or any of its proxies1
 that such an invasion has occurred2 or 

7#b7 the enactment of a joint resolution
 pursuant to subsection 7b74  7b7       
,determination by joint resolution  7#a7
 ,covered joint resolution defined ,in  
this subsection1 the term covered joint 
resolution means only a joint resolution
 of either ,house of ,congress the sole 
matter after the resolving clause of    
which is as follows3 ,that ,congress    
determines that the ,people's           
,liberation ,army or one of its proxies 
initiated a military invasion of ,taiwan
 on 41 with the blank space being filled
 with the appropriate date4  7#b7       
,introduction ,a covered joint          
resolution may be introduced-- 7,a7 in  
the ,house of ,representatives1 by the  
majority leader 7or the majority        
leader's designee7 or the minority      
leader 7or the minority leader's        
designee72 and  7,b7 in the ,senate1 by 
the majority leader 7or the majority    
leader's designee7 or the minority      
leader 7or the minority leader's        
designee74  7#c7 ,floor consideration in

 ,house of ,representatives  7,a7       
,discharge from committee ,if a         
committee of the ,house of              
,representatives to which a covered     
joint resolution has been referred has  
not reported the joint resolution within
 #b calendar days after the date of     
referral of the joint resolution1 the   
committee shall be discharged from      
further consideration of the joint      
resolution and the joint resolution     
shall be placed on the appropriate      
calendar4  7,b7 ,moving to consideration
 ,at any time after a covered joint     
resolution has been placed on the       
appropriate calendar1 it is in order for
 the sponsor of the joint resolution 7or
 a designee7 to move for the            
consideration of that joint resolution4 
7,c7 ,points of order2 motions ,all     
points of order against the covered     
joint resolution and its consideration  
are waived4 ,if the motion under        
subparagraph 7,b7 is agreed to1 the     
joint resolution shall remain the       

unfinished business of the ,house until 
disposed of1 except as provided in      
paragraph 7#e74  7,d7 ,no amendments ,a 
covered joint resolution shall not be   
subject to amendment in the ,house of   
,representatives4  7,e7 ,debate ,general
 debate on a covered joint resolution   
shall not exceed #d hours1 which shall  
be equally divided and controlled by the
 sponsor of the joint resolution 7or a  
designee7 and an opponent4  7,f7 ,final 
passage ,at the conclusion of debate1   
the previous question shall be          
considered as ordered on the resolution1
 and the ,house of ,representatives     
shall vote on final passage without     
intervening motion4  7#d7 ,consideration
 in the ,senate  7,a7 ,reporting and    
discharge ,if the committee of the      
,senate to which a covered joint        
resolution was referred has not reported
 the joint resolution within #b calendar
 days after the date of referral of the 
joint resolution1 that committee shall  
be discharged from further consideration

 of the joint resolution and the joint  
resolution shall be placed on the       
appropriate calendar4  7,b7 ,proceeding 
to consideration ,notwithstanding ,rule 
,,xxii of the ,standing ,rules of the   
,senate1 it is in order at any time     
after the committee of the ,senate to   
which a covered joint resolution was    
referred reports the joint resolution to
 the ,senate or has been discharged from
 consideration of the joint resolution  
7even though a previous motion to the   
same effect has been disagreed to7 to   
move to proceed to the consideration of 
the joint resolution1 and all points of 
order against the joint resolution 7and 
against consideration of the joint      
resolution7 are waived4 ,the motion to  
proceed is not debatable4 ,the motion is
 not subject to a motion to postpone4   
7,c7 ,no amendments ,an amendment to a  
covered joint resolution1 or a motion to
 postpone1 or a motion to proceed to the
 consideration of other business1 or a  
motion to recommit a covered joint      

resolution1 is not in order4  7,d7      
,consideration  7i7 ,limitation on      
debate ,consideration in the ,senate of 
a covered joint resolution shall be     
limited to not more than #aj hours1     
which shall be equally divided between1 
and controlled by1 the majority leader  
and the minority leader1 or by their    
designees4  7ii7 ,vote on adoption      
,whenever all the time for debate on a  
covered joint resolution has been used  
or yielded back1 the vote on the        
adoption of the resolution shall occur  
without any intervening motion or       
amendment1 except that a single quorum  
call at the conclusion of the debate if 
requested in accordance with the ,rules 
of the ,senate may occur immediately    
before such vote4  7,e7 ,rulings of the 
chair on procedure ,appeals from the    
decisions of the ,chair relating to the 
application of the rules of the ,senate1
 as the case may be1 to the procedure   
relating to a covered joint resolution  
shall be decided without debate4  7,f7  

,consideration of veto messages ,debate 
in the ,senate of any veto message with 
respect to a covered joint resolution1  
including all debatable motions and     
appeals in connection with the joint    
resolution1 shall be limited to #aj     
hours1 to be equally divided between1   
and controlled by1 the majority leader  
and the minority leader or their        
designees4  7#e7 ,rules relating to     
,senate and ,house of ,representatives  
7,a7 ,treatment of ,senate joint        
resolution in ,house ,in the ,house of  
,representatives1 the following         
procedures shall apply to a covered     
joint resolution received from the      
,senate 7unless the ,house has already  
passed a joint resolution relating to   
the same proposed action73 7i7 ,the     
joint resolution shall be referred to   
the appropriate committees4  7ii7 ,if a 
committee to which a joint resolution   
has been referred has not reported the  
joint resolution within #b calendar days
 after the date of referral1 that       

committee shall be discharged from      
further consideration of the joint      
resolution4  7iii7 ,beginning on the    
third legislative day after the         
committee to which a joint resolution   
has been referred reports the joint     
resolution to the ,house or has been    
discharged from further consideration   
thereof1 it shall be in order to move to
 proceed to consider the joint          
resolution in the ,house4 ,all points of
 order against the motion are waived4   
,such a motion shall not be in order    
after the ,house has disposed of a      
motion to proceed on the joint          
resolution4 ,the previous question shall
 be considered as ordered on the motion 
to its adoption without intervening     
motion4 ,the motion shall not be        
debatable4 ,a motion to reconsider the  
vote by which the motion is disposed of 
shall not be in order4  7iv7 ,the joint 
resolution shall be considered as read4 
,all points of order against the joint  
resolution and against its consideration

 are waived4 ,the previous question     
shall be considered as ordered on the   
joint resolution to final passage       
without intervening motion except #d    
hours of debate equally divided and     
controlled by the sponsor of the joint  
resolution 7or a designee7 and an       
opponent4 ,a motion to reconsider the   
vote on passage of the joint resolution 
shall not be in order4  7,b7 ,treatment 
of ,house joint resolution in ,senate   
7i7 ,receipt before passage ,if1 before 
the passage by the ,senate of a covered 
joint resolution1 the ,senate receives  
an identical joint resolution from the  
,house of ,representatives1 the         
following procedures shall apply3 7,i7  
,that joint resolution shall not be     
referred to a committee4  7,,ii7 ,with  
respect to that joint resolution-- 7aa7 
the procedure in the ,senate shall be   
the same as if no joint resolution had  
been received from the ,house of        
,representatives2 but  7bb7 the vote on 
passage shall be on the joint resolution

 from the ,house of ,representatives4   
7ii7 ,receipt after passage ,if1        
following passage of a covered joint    
resolution in the ,senate1 the ,senate  
receives an identical joint resolution  
from the ,house of ,representatives1    
that joint resolution shall be placed on
 the appropriate ,senate calendar4      
7iii7 ,no companion measure ,if a       
covered joint resolution is received    
from the ,house1 and no companion joint 
resolution has been introduced in the   
,senate1 the ,senate procedures under   
this subsection shall apply to the      
,house joint resolution4  7,c7          
,application to revenue measures ,the   
provisions of this paragraph shall not  
apply in the ,house of ,representatives 
to a covered joint resolution that is a 
revenue measure4  7#f7 ,rules of ,house 
of ,representatives and ,senate ,this   
subsection is enacted by ,congress--    
7,a7 as an exercise of the rulemaking   
power of the ,senate and the ,house of  
,representatives1 respectively1 and as  

such is deemed a part of the rules of   
each ,house1 respectively1 and          
supersedes other rules only to the      
extent that it is inconsistent with such
 rules2 and  7,b7 with full recognition 
of the constitutional right of either   
,house to change the rules 7so far as   
relating to the procedure of that       
,house7 at any time1 in the same manner1
 and to the same extent as in the case  
of any other rule of that ,house4  #g4  
,imposition of sanctions with respect to
 members of the ,chinese ,communist     
,party  7a7 ,imposition of sanctions    
,not later than #c days after a covered 
determination is made1 the ,president   
shall-- 7#a7 impose the sanctions       
described in subsection 7b7 with respect
 to any foreign person the ,president   
determines is a member of the ,chinese  
,communist ,party1 including any branch 
of the armed forces or intelligence     
agencies of the ,chinese ,communist     
,party2 and  7#b7 impose the sanctions  
described in subsection 7c7 with respect

 to-- 7,a7 any foreign person identified
 under paragraph 7#a72  7,b7 any        
successor entity to that foreign person2
 and  7,c7 any foreign person that is a 
parent or subsidiary of that foreign    
person4  7b7 ,sanctions described ,the  
sanctions described in this subsection  
are the following3 7#a7 ,blocking of    
property  7,a7 ,in general ,the         
,president shall exercise all of the    
powers granted by the ,international    
,emergency ,economic ,powers ,act 7#ej  
,u4,s4,c4 #agja et seq47 to block and   
prohibit all transactions in all        
property and interests in property of a 
foreign person described in subsection  
7a77#a7 if such property and interests  
in property are in the ,united ,states1 
come within the ,united ,states1 or are 
or come within the possession or control
 of a ,united ,states person4  7,b7     
,inapplicability of national emergency  
requirement ,the requirements of section
 #bjb of the ,international ,emergency  
,economic ,powers ,act 7#ej ,u4,s4,c4   

#agja7 shall not apply for purposes of  
this section4  7#b7 ,inclusion on entity
 list ,the ,president shall include a   
foreign person described in subsection  
7a77#a7 on the entity list maintained by
 the ,bureau of ,industry and ,security 
of the ,department of ,commerce and set 
forth in ,supplement ,no4 #d to part    
#gdd of title #ae1 ,code of ,federal    
,regulations1 for activities contrary to
 the national security or foreign policy
 interests of the ,united ,states4  7#c7
 ,banking transactions ,the ,president  
shall1 pursuant to such regulations as  
the ,president may prescribe1 prohibit  
any transfers of credit or payments     
between financial institutions or by1   
through or to any financial institution1
 to the extent that such transfers or   
payments are subject to the jurisdiction
 of the ,united ,states and involve any 
interest of a foreign person described  
in subsection 7a77#a74  7c7             
,ineligibility for visas1 admission1 or 
parole  7#a7 ,visas1 admission1 or      

parole ,an alien described in subsection
 7a77#b7 shall be-- 7,a7 inadmissible to
 the ,united ,states2  7,b7 ineligible  
to receive a visa or other documentation
 to enter the ,united ,states2 and  7,c7
 otherwise ineligible to be admitted or 
paroled into the ,united ,states or to  
receive any other benefit under the     
,immigration and ,nationality ,act 7#h  
,u4,s4,c4 #aaja et seq474  7#b7 ,current
 visas revoked  7,a7 ,in general ,the   
visa or other entry documentation of an 
alien described in subsection 7a77#b7   
shall be revoked1 regardless of when    
such visa or other entry documentation  
is or was issued4  7,b7 ,immediate      
effect ,a revocation under subparagraph 
7,a7 shall-- 7i7 take effect            
immediately2 and  7ii7 automatically    
cancel any other valid visa or entry    
documentation that is in the alien's    
possession4  7d7 ,exception for         
compliance with international           
obligations and law enforcement         
activities ,sanctions under subsection  

7c7 shall not apply with respect to an  
alien if-- 7#a7 admitting or paroling   
the alien into the ,united ,states is   
necessary-- 7,a7 to permit the ,united  
,states to comply with the ,agreement   
regarding the ,headquarters of the      
,united ,nations1 signed at ,lake       
,success on ,june #bf1 #aidg1 and       
entered into force ,november #ba1 #aidg1
 between the ,united ,nations and the   
,united ,states1 or other applicable    
international obligations of the ,united
 ,states2 or  7,b7 to carry out or      
assist law enforcement activity in the  
,united ,states2 or  7#b7 the alien     
holds a valid1 unexpired ,a-#a1 ,a-#b1  
,c-#b1 ,g-#a1 or ,g-#b visa4  #h4       
,imposition of sanctions with respect to
 financial institutions affiliated with 
the ,chinese ,communist ,party  7a7 ,in 
general ,not later than #c days after a 
covered determination is made1 the      
,secretary of the ,treasury shall impose
 the sanctions described in subsection  
7c7 with respect to a foreign financial 

institution described in subsection 7b74
  7b7 ,foreign financial institutions   
described ,a foreign financial          
institution is described in this        
subsection if the ,chinese ,communist   
,party has a majority ownership interest
 in the financial institution or the    
financial institution is otherwise      
affiliated with the ,chinese ,communist 
,party1 including the following         
financial institutions and their        
subsidiaries and successor entities3    
7#a7 ,the ,people's ,bank of ,china4    
7#b7 ,the ,industrial and ,commercial   
,bank of ,china4  7#c7 ,the ,china      
,construction ,bank4  7#d7 ,the ,bank of
 ,china4  7#e7 ,the ,bank of            
,communications4  7#f7 ,the             
,agricultural ,bank of ,china4  7#g7    
,the ,china ,,citic ,bank4  7c7         
,sanctions described ,the sanctions     
described in this subsection are the    
following3 7#a7 ,blocking of property   
7,a7 ,in general ,the ,president shall  
exercise all of the powers granted to   

the ,president under the ,international 
,emergency ,economic ,powers ,act 7#ej  
,u4,s4,c4 #agja et seq47 to the extent  
necessary to block and prohibit all     
transactions in property and interests  
in property of a foreign financial      
institution subject to subsection 7a7 if
 such property and interests in property
 are in the ,united ,states1 come within
 the ,united ,states1 or are or come    
within the possession or control of a   
,united ,states person4  7,b7           
,inapplicability of national emergency  
requirement ,the requirements of section
 #bjb of the ,international ,emergency  
,economic ,powers ,act 7#ej ,u4,s4,c4   
#agja7 shall not apply for purposes of  
this section4  7#b7 ,restrictions on    
correspondent and payable-through       
accounts ,the ,president shall prohibit 
the opening1 and prohibit or impose     
strict conditions on the maintaining1 in
 the ,united ,states of a correspondent 
account or payable-through account by a 
foreign financial institution subject to

 subsection 7a74  #i4 ,imposition of    
sanctions with respect to entities owned
 by or affiliated with the ,chinese     
,communist ,party  7a7 ,in general ,not 
later than #c days after a covered      
determination is made1 the ,secretary of
 the ,treasury shall impose the         
sanctions described in subsection 7b7   
with respect to any entity that-- 7#a7  
the ,chinese ,communist ,party has an   
ownership interest in2 or  7#b7 is      
otherwise affiliated with the ,chinese  
,communist ,party4  7b7 ,blocking of    
property  7#a7 ,in general ,the         
,president shall exercise all of the    
powers granted to the ,president under  
the ,international ,emergency ,economic 
,powers ,act 7#ej ,u4,s4,c4 #agja et    
seq47 to the extent necessary to block  
and prohibit all transactions in        
property and interests in property of an
 entity in an industry subject to       
subsection 7a7 if such property and     
interests in property are in the ,united
 ,states1 come within the ,united       

,states1 or are or come within the      
possession or control of a ,united      
,states person4  7#b7 ,inapplicability  
of national emergency requirement ,the  
requirements of section #bjb of the     
,international ,emergency ,economic     
,powers ,act 7#ej ,u4,s4,c4 #agja7 shall
 not apply for purposes of this section4
  #aj4 ,prohibition on transfers of     
funds involving the ,people's ,republic 
of ,china  7a7 ,in general ,except as   
provided by subsection 7b71 a depository
 institution 7as defined in section     
#ai7;b77#a77;,a7 of the ,federal        
,reserve ,act 7#ab ,u4,s4,c4            
#dfa7;b77#a77;,a777 or a broker or      
dealer in securities registered with the
 ,securities and ,exchange ,commission  
under the ,securities ,exchange ,act of 
#aicd 7#ae ,u4,s4,c4 #gh;a et seq47 may 
not process transfers of funds-- 7#a7 to
 or from the ,people's ,republic of     
,china2 or  7#b7 for the direct or      
indirect benefit of members of the      
,chinese ,communist ,party4  7b7        

,exception ,a depository institution1   
broker1 or dealer described in          
subsection 7a7 may process a transfer   
described in that subsection if the     
transfer-- 7#a7 arises from1 and is     
ordinarily incident and necessary to    
give effect to1 an underlying           
transaction that is authorized by a     
specific or general license2 and  7#b7  
does not involve debiting or crediting  
an ,chinese account4  #aa4 ,prohibition 
on listing or trading of ,chinese       
entities on ,united ,states securities  
exchanges  7a7 ,in general ,the         
,securities and ,exchange ,commission   
shall prohibit the securities of an     
issuer described in subsection 7b7 from 
being traded on a national securities   
exchange on and after the date that is  
#c days after a covered determination is
 made4  7b7 ,issuers ,an issuer         
described in this subsection is an      
issuer that is-- 7#a7 an official of or 
individual affiliated with the ,chinese 
,communist ,party2 or  7#b7 an entity   

that-- 7,a7 the ,chinese ,communist     
,party has an ownership interest in2 or 
7,b7 is otherwise affiliated with the   
,chinese ,communist ,party4  7c7        
,definitions ,in this section3 7#a7     
,issuer2 security ,the terms issuer and 
security have the meanings given those  
terms in section #c7;a7 of the          
,securities ,exchange ,act of #aicd 7#ae
 ,u4,s4,c4 #gh;c74  7#b7 ,national      
securities exchange ,the term national  
securities exchange means an exchange   
registered as a national securities     
exchange in accordance with section #f  
of the ,securities ,exchange ,act of    
#aicd 7#ae ,u4,s4,c4 #gh;f74  #ab4      
,prohibition on investments by ,united  
,states financial institutions that     
benefit the ,chinese ,communist ,party  
7a7 ,in general ,not later than #c days 
after a covered determination is made1  
the ,secretary of the ,treasury shall   
prohibit any ,united ,states financial  
institution from making any investments 
described in subsection 7b74  7b7       

,investments described ,an investment   
described in this subsection is a       
monetary investment-- 7#a7 to-- 7,a7 an 
entity owned or controlled by the       
,chinese ,communist ,party2 or  7,b7 the
 ,people's ,liberation ,army2 or  7#b7  
for the benefit of any priority         
industrial sector identified by the     
,chinese ,communist ,party in the ,made 
in ,china #bjbe plan or the #adth ,five 
,year ,smart ,manufacturing ,development
 ,plan1 including-- 7,a7 agriculture    
machinery2  7,b7 information technology2
  7,c7 artificial intelligence1 machine 
learning1 and robotics2  7,d7 green     
energy and green vehicles2  7,e7        
aerospace equipment2  7,f7 ocean        
engineering and high tech ships2  7,g7  
railway equipment2  7,h7 power          
equipment2  7,i7 new materials2  7,j7   
medicine and medical devices2  7,k7     
fifth generation and future generation  
telecommunications and other advanced   
wireless networking technologies2  7,l7 
semiconductor manufacturing2  7,m7      

biotechnology2  7,n7 quantum computing2 
7,o7 surveillance technologies1         
including facial recognition            
technologies and censorship software2   
7,p7 fiber optic cables2 and  7,q7      
mining and resource development4  7c7   
,united ,states financial institution   
defined ,in this section1 the term      
,united ,states financial institution-- 
7#a7 means any financial institution    
that is a ,united ,states person2 and   
7#b7 includes an investment company1    
private equity company1 venture capital 
company1 or hedge fund that is a ,united
 ,states person4  #ac4 ,prohibition on  
importation of certain goods made in the
 ,people's ,republic of ,china  7a7 ,in 
general ,except as provided in          
subsection 7b71 on and after the date   
that is #c days after a covered         
determination is made1 all goods mined1 
produced1 or manufactured wholly or in  
part in the ,people's ,republic of      
,china1 or by a person working for or   
affiliated with an entity or industry   

wholly financed by the ,chinese         
,communist ,party or in which the       
,chinese ,communist ,party has a        
majority ownership interest1 shall not  
be entitled to entry at any of the ports
 of the ,united ,states and the         
importation of such goods is prohibited4
  7b7 ,exception ,the prohibition under 
subsection 7a7 shall not apply with     
respect to a good if the ,president--   
7#a7 determines that the good is        
necessary to the national security1     
economic security1 or public health of  
the ,united ,states2 and  7#b7 submits  
to the appropriate congressional        
committees and make available to the    
public a report on that determination4  
#ad4 ,exceptions2 waiver  7a7 ,exception
 for intelligence activities ,this ,act 
shall not apply with respect to         
activities subject to the reporting     
requirements under title ,v of the      
,national ,security ,act of #aidg 7#ej  
,u4,s4,c4 #cjia et seq47 or any         
authorized intelligence activities of   

the ,united ,states4  7b7 ,national     
security waiver ,the ,president may     
waive the imposition of sanctions under 
this ,act with respect to a person if   
the ,president-- 7#a7 determines that   
such a waiver is in the national        
security interests of the ,united       
,states2 and  7#b7 submits to the       
appropriate congressional committees a  
notification of the waiver and the      
reasons for the waiver4  #ae4           
,implementation2 penalties  7a7         
,implementation ,the ,president may     
exercise all authorities provided under 
sections #bjc and #bje of the           
,international ,emergency ,economic     
,powers ,act 7#ej ,u4,s4,c4 #agjb and   
#agjd7 to carry out this ,act4  7b7     
,penalties ,a person that violates1     
attempts to violate1 conspires to       
violate1 or causes a violation of this  
,act or any regulation1 license1 or     
order issued to carry out this ,act     
shall be subject to the penalties set   
forth in subsections 7b7 and 7c7 of     

section #bjf of the ,international      
,emergency ,economic ,powers ,act 7#ej  
,u4,s4,c4 #agje7 to the same extent as a
 person that commits an unlawful act    
described in subsection 7a7 of that     
section4