,i  #aah? ,,congress  #a/ ,session  ,h4 
,r4 #dii  ,,9 ,,! ,,h\se ,,(            
,,repres5tatives  ,janu>y #be1 #bjbc    
,mr4 ,fallon 7= himself1 ,mr4 ,ellzey1  
,mr4 ,jackson ( ,texas1 & ,mr4 ,amodei7 
introduc$ ! foll[+ bill2 :i* 0 ref]r$ to
 ! ,committee on ,f9ancial ,s]vices  ,a 
,,bill  ,to am5d ! ,securities ,ex*ange 
,act ( #aicd to require c]ta9 additional
 annual disclosures by public companies 
& ex*ange-trad$ funds inve/+ 9 companies
 ) ties to ! ,p's ,republic ( ,*9a1 & = 
o!r purposes4  #a4 ,%ort title ,?is ,act
 may be cit$ z ! ,secur+ ,am]ican       
,families & ,ent]prises f ,p's ,republic
 ( ,*9a ,inve/m5ts ,act or ! ,,safe f   
,,prc ,inve/m5ts ,act4  #b4 ,additional 
disclosures to protect ,am]ican inve/ors
 & bus9esses ,section #ac ( !           
,securities ,ex*ange ,act ( #aicd 7#ae  
,u4,s4,c4 #ghm7 is am5d$ by add+ at !   
end ! foll[+3  7s7 ,additional          
disclosures ,to protect ,am]ican        
inve/ors & bus9esses  7#a7 ,9 g5]al ,ea*
 cov]$ issu] t is requir$ to file an    

annual report "u section #ac7;a7 or     
#ae7;d7 %all disclose 9 t report !      
foll[+3 7,a7 ,:e!r a s5ior (ficial ( !  
national- or prov9cial-level gov]nm5ts (
 ! ,p's ,republic ( ,*9a 7,,prc7 sits on
 ! bo>d ( directors ( ! issu] or any    
subsidi>y ( ! issu]4  7,b7 ,:e!r        
executive-level employees1 s5ior        
directors1 & bo>d memb]s ( ! issu] are  
memb]s ( ! ,communi/ ,p>ty ( ,*9a4  7,c7
 ,:e!r executive-level employees1 s5ior 
directors1 & bo>d memb]s ( ! issu] h    
imm$iate family memb]s t are s5ior      
(ficials ( ! ,communi/ ,p>ty ( ,*9a or !
 ,gov]nm5t ( ! ,p's ,republic ( ,*9a4   
7,d7 ,:e!r ! issu] has a p>ty bran* or  
committee z "p ( ! issu]'s corporate    
/ructure4  7,e7 ,) respect to !         
op]ations ( ! issu] locat$ 9 ! ,,prc--  
7i7 ! am\nt ( ca% held2  7ii7 any limits
 impos$ by ! ,communi/ ,p>ty ( ,*9a or !
 ,gov]nm5t ( ! ,p's ,republic ( ,*9a on 
! ability to take su* ca% out ( !       
c\ntry2 &  7iii7 disclosure ( inve/m5ts1
 assets & liabilities1 te*nology lic5s$ 

or transf]r$1 & f9anc+ or debt          
obligations involv+ ,,prc op]ations or f
 a ,,prc entity4  7,f7 ,! numb] ( times 
executive-level employees ( ! issu]     
int]act ) s5ior (ficials ( ! ,communi/  
,p>ty ( ,*9a & ! co/s ( ^? meet+s & any 
transf] ( goods1 money1 or s]vices      
betwe5 issu]'s employees4  7,g7 ,! am\nt
 ! issu] has exp5d$ on op]ations 9 !    
,p's ,republic ( ,*9a1 bo? 9 total & = !
 prior fiscal ye>4  7,h7 ,! am\nt !     
issu] has exp5d$ on op]ations 9 ! ,unit$
 ,/ates1 bo? 9 total & = ! prior fiscal 
ye>4  7,i7 ,! am\nt 7bo? 9 total & = !  
prior fiscal ye>7 t ! issu] has sp5t on 
lobby+ 9 ! ,unit$ ,/ates1 includ+-- 7i7 
:e!r ! issu] or any subsidi>y ( ! issu] 
has report$ any sums "u ! ,=eign ,ag5ts 
,regi/ration ,act ( #aich2 &  7ii7 :e!r 
! issu] or any subsidi>y ( ! issu] has  
report$ any sums "u ! ,lobby+           
,disclosure ,act ( #aiie4  7,j7 ,:e!r ! 
,public ,company ,acc\nt+ ,ov]sight     
,bo>d is unable to inspect or inve/igate
 a regi/]$ public acc\nt+ firm reta9$ by

 ! issu] to prep>e an audit report on ! 
f9ancial /atem5t ( ! issu]4  7,k7 ,!    
am\nt ( taxes & o!r fees ! issu] paid to
 ! ,gov]nm5t ( ! ,p's ,republic ( ,*9a  
on an annual basis4  7,l7 ,) respect to 
cu/om] data--  7i7 :o has access to su* 
data2  7ii7 disclosure ( in/ances :5    
in=mation is reque/$1 arrangem5ts t may 
all[ passive or cont9u\s access1 ef=ts  
to protect su* data1 in/ances (         
cyb]-attack1 corporate or p]sonnel      
disputes t involve pot5tial brea*es1 &  
notification ( o!r brea*es2 &  7iii7    
:e!r su* data is /or$ 9 ! ,unit$ ,/ates 
&1 if n1 ! c\ntry or t]ritory 9 :i* su* 
data is /or$4  7,m7 ,= ea* subsidi>y ( !
 issu] locat$ 9 ! ,,prc1 ! in=mation    
describ$ "u subp>agraphs 7,a7 ?r\gh 7,l7
 ) respect to su* subsidi>y4  7,n7 ,if !
 issu] or any subsidi>y ( ! issu] locat$
 9 ! ,,prc produces goods or s]vices t  
are "p ( a milit>y-civil fusion /rategy1
 :e!r ! issu] has consult$ ) ! ,p's     
,lib]ation ,army or ! ,m9i/ry ( ,/ate   
,security ) reg>d to indu/rial policy4  

7#b7 ,def9itions ,9 ?is subsection3     
7,a7 ,communi/ ,p>ty ( ,*9a ,! t]m      
,communi/ ,p>ty ( ,*9a means ! rul+ p>ty
 ( ! ,p's ,republic ( ,*9a1 includ+--   
7i7 p>ty bodies at ! national &         
sub-national level2 &  7ii7 any ag5cy or
 in/rum5tality ( ! ,communi/ ,p>ty (    
,*9a4  7,b7 ,cov]$ issu] ,! t]m cov]$   
issu] means an issu]--  7i7 t is-- 7,i7 
headqu>t]$ 9 ! ,,prc 7includ+ ! ,hong   
,kong & ,macau ,special ,adm9i/rative   
,regions72  7,,ii7 a bran* or subsidi>y 
( an issu] headqu>t]$ 9 ! ,,prc2 or     
7,,iii7 a v>iable int]e/ entity or o!r  
type ( firm /ructur$ ?r\gh a s]ies (    
contracts or ov]lapp+ p]sonnel--  7aa7 t
 are ti$ to core op]ations 9 ! ,,prc2 or
  7bb7 controll$ & own$ by an issu]     
headqu>t]$ 9 ! ,,prc2 or  7ii7 t-- 7,i7 
is domicil$ 9 a tax hav5 jurisdiction or
 self-gov]n+ t]ritories1 includ+ !      
,cayman ,isl&s1 ,briti% ,virg9 ,isl&s1  
,b]muda1 ! ,ne!rl&s1 ,switz]l&1         
,luxemb\rg1 ,s+apore1 ! ,unit$ ,arab    
,emirates1 ! ,bahamas1 ,cyprus1 or      

,mauritius2 &  7,,ii7 has ! majority ( !
 issu]'s bus9ess op]ations tak+ place or
 ! majority ( ! issu]'s rev5ue g5]at$ 9 
ma9l& ,*9a4  7,c7 ,gov]nm5t ( ! ,p's    
,republic ( ,*9a ,! t]m ,gov]nm5t ( !   
,p's ,republic ( ,*9a means any ( !     
foll[+3  7i7 ,any national or           
sub-national gov]nm5tal unit ( ! ,p's   
,republic ( ,*9a4  7ii7 ,any national or
 sub-national legislature ( ! ,p's      
,republic ( ,*9a4  7iii7 ,any national  
or sub-national ,p's ,political         
,consultative ,conf]5ce ( ! ,p's        
,republic ( ,*9a4  7iv7 ,any national or
 sub-national judicial or prosecutorial 
body ( ! ,p's ,republic ( ,*9a4  7v7    
,any national or sub-national sup]vision
 commission ( ! ,p's ,republic ( ,*9a4  
7vi7 ,any ag5cy or in/rum5tality ( !    
,p's ,republic ( ,*9a4  7,d7 ,imm$iate  
family memb] ,! t]m imm$iate family     
memb] %all include a sp\se1 dome/ic     
p>tn]1 "m1 fa!r1 aunt1 uncle1 sibl+1 or 
*ild4  7,e7 ,milit>y-civil fusion       
/rategy ,! t]m milit>y-civil fusion     

/rategy means ! /rategy ( ! ,communi/   
,p>ty ( ,*9a aim+ to mobilize           
non-milit>y res\rces & exp]tise =       
milit>y application1 includ+--  7i7 !   
developm5t ( te*nology1 improvem5ts 9   
logi/ics1 & o!r uses by ! ,p's          
,lib]ation ,army2 &  7ii7 firms :i*     
develop & acquire advanc$ dual-use      
te*nology = milit>y purposes4  7,f7     
,,prc ,! t]m ,,prc means ! ,p's         
,republic ( ,*9a4  7,g7 ,s5ior (ficial  
,! t]m s5ior (ficial1 :5 us$ 9          
connection ) ! ,gov]nm5t ( ! ,p's       
,republic ( ,*9a or ! ,communi/ ,p>ty ( 
,*9a1 means--  7i7 an (ficial ) ! rank (
 a deputy at ! prov9cial or m9i/]ial    
level 7%5gbu ji fu zhi7 or high]2 or    
7ii7 a *ief at ! bureau level 7t+ju ji  
zh5g zhi7 or high]4  7,h7 ,v>iable      
int]e/ entity ,! t]m v>iable int]e/     
entity means an entity :]e an inve/or   
has a controll+ int]e/ t is n bas$ on   
hold+ ! majority ( vot+ rights4  4  #c4 
,disclosures by ex*ange trad$ funds     
inve/+ 9 ,*9ese companies ,section #ac (

 ! ,securities ,ex*ange ,act ( #aicd    
7#ae ,u4,s4,c4 #ghm71 z am5d$ by section
 #b1 is fur!r am5d$ by add+ at ! end !  
foll[+3  7t7 ,disclosures by ex*ange    
trad$ funds inve/+ 9 ,*9ese companies   
7#a7 ,9 g5]al ,ea* ex*ange trad$ fund   
requir$ to file an annual report "u     
section #ac7;a7 or #ae7;d7 %all1 if !   
fund inve/$ 9 ! securities ( any ,,prc  
company dur+ ! report+ p]iod1 include 9 
su* report ! foll[+1 ) respect to ea*   
su* ,,prc company3 7,a7 ,:o owns !      
company1 includ+ :e!r ! company is own$ 
by ! ,gov]nm5t ( ! ,p's ,republic ( ,*9a
 or a ,,prc /ate-controll$ entity4  7,b7
 ,:e!r ! company op]ates a ,communi/    
,p>ty ( ,*9a bran* or committee )9 !    
company's corporate /ructure4  7,c7     
,:e!r ! company has any contractual     
agreem5ts ) ! ,gov]nm5t ( ! ,p's        
,republic ( ,*9a or ! ,communi/ ,p>ty ( 
,*9a or any ag5cy or in/rum5tality (    
ei!r4  7,d7 ,:e!r ! company has         
p>ticipat$ 9 ! ,,prc's indu/rial        
policies or has milit>y or public       

security contracts4  7,e7 ,:e!r any     
fund+1 direction1 or o!r =ms ( control  
ov] ! company are ex]cis$ by ! ,gov]nm5t
 ( ! ,p's ,republic ( ,*9a or !         
,communi/ ,p>ty ( ,*9a4  7,f7 ,:e!r     
executive-level employees & bo>d memb]s 
( ! company h imm$iate family memb]s :o 
are s5ior (ficials ( ! ,communi/ ,p>ty (
 ,*9a or ! ,gov]nm5t ( ! ,p's ,republic 
( ,*9a or are !mselves s5ior (ficials ( 
! ,communi/ ,p>ty ( ,*9a or ! ,gov]nm5t 
( ! ,p's ,republic ( ,*9a4  7,g7 ,:e!r !
 company is "p ( 7includ+ by reason (   
be+ a bran* or subsidi>y7 or ti$ to     
7?r\gh a s]ies ( contracts or p>allel   
corporate incorporations7 firms or      
individuals sanction$1 re/rict$1 or     
id5tifi$ z ti$ to ! ,p's ,lib]ation     
,army by ! ,unit$ ,/ates ,gov]nm5t1     
includ+ "u--  7i7 ! ,milit>y ,end ,us]  
,li/ ma9ta9$ by ! ,bureau ( ,indu/ry &  
,security ( ! ,dep>tm5t ( ,comm]ce2     
7ii7 ! ,non-,,sdn ,*9ese                
,milit>y-,indu/rial ,complex ,companies 
,li/2  7iii7 ! ,unv]ifi$ ,li/ ma9ta9$ by

 ! ,secret>y ( ,comm]ce2  7iv7 ! ,li/   
ma9ta9$ by ! ,f$]al ,communications     
,commission ( equipm5t & s]vices cov]$  
by section #b ( ! ,secure & ,tru/$      
,communications ,networks ,act ( #bjai  
7#dg ,u4,s4,c4 #afja72  7v7 ! ,uyghur   
,=c$ ,labor ,prev5tion ,act ,entity ,li/
 ma9ta9$ by ! ,dep>tm5t ( ,homel&       
,security2  7vi7 ! li/ ( cov]$ issu]s   
subject to a prohibition "u section #ajd
 ( ! ,s>banes-,oxley ,act ( #bjjb 7#ae  
,u4,s4,c4 #gbad7 ma9ta9$ by !           
,securities & ,ex*ange ,commission2 &   
7vii7 ! ,)hold ,release ,ord]s & ,f9d+s 
,li/ ma9ta9$ by ! ,commission] ( ,u4,s4 
,cu/oms & ,bord] ,protection4  7,h7 ,!  
types ( products & s]vices (f]$ by !    
company4  7,i7 ,:e!r ! company has a    
contract ) ! ,unit$ ,/ates ,dep>tm5t (  
,def5se4  7,j7 ,:e!r ! company produces 
a product or s]vice t is us$ 9 !        
production ( aircraft1 spacecraft1      
semiconductor *ips & equipm5t1 batt]ies 
or batt]y compon5ts1 facial recognition 
te*nology1 artificial intellig5ce1      

telecommunications te*nology1 en]gy     
production equipm5t1 advanc$ m$ical     
devices1 or ph>maceuticals or any su*   
products relat$ to ! national te*nology 
& indu/rial base 9 ! ,unit$ ,/ates4     
7,k7 ,:e!r ! company produces goods t   
w\ld violate ,u4,s4 environm5tal law or 
,u4,s4 civil lib]ties law if ! goods 7  
produc$ or us$ 9 ! ,unit$ ,/ates4  7,l7 
,any bus9ess activities conduct$ by !   
company--  7i7 ) a privately held firm  
involv$ 9 ,*9a's indu/rial1 te*nology1 &
 milit>y mod]nization ef=ts bas$ 9 !    
,p's ,republic ( ,*9a2 or  7ii7 ) a     
,*9ese /ate-controll$ entity4  7,m7     
,:e!r ! company has ev] _h an audit ( ! 
same type & quality z typically us$ by  
an issu] ( publicly trad$ securities4   
7#b7 ,def9itions ,9 ?is subsection3     
7,a7 ,ex*ange trad$ fund ,! t]m ex*ange 
trad$ fund has ! mean+ giv5 t t]m "u    
section #bgj4f;c-#aa ( title #ag1 ,code 
( ,f$]al ,regulations4  7,b7 ,o!r       
def9itions ,! t]ms ,communi/ ,p>ty (    
,*9a1 ,gov]nm5t ( ! ,p's ,republic (    

,*9a1 imm$iate family memb]1 & ,,prc h !
 mean+ giv5 ^? t]ms1 respectively1 "u   
subsection 7s77#b74  4