,,ii  #aahth ,,congress  #b;d ,session  
,s4 #dghi  ,,in ,,the ,,senate ,,of     
,,the ,,united ,,states  ,july #be1     
#bjbd,mr4 ,sullivan 7for himself and    
,ms4 ,duckworth7 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 ,taiwan4  #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 #bjbd or the ,,stand with       
,taiwan ,act of #bjbd4  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 

,imposition of sanctions with respect to
 officials of the ,government of the    
,people's ,republic of ,china and       
members of the ,chinese ,communist      
,party4,sec4 #g4 ,imposition of         
sanctions with respect to financial     
institutions affiliated with the        
,government of the ,people's ,republic  
of ,china4,sec4 #h4 ,imposition of      
sanctions with respect to entities owned
 by or affiliated with the ,government  
of the ,people's ,republic of ,china or 
the ,chinese ,communist ,party4,sec4 #i4
 ,prohibition on transfers of funds     
involving the ,people's ,republic of    
,china4,sec4 #aj4 ,prohibition on       
listing or trading of ,chinese entities 
on ,united ,states securities           
exchanges4,sec4 #aa4 ,prohibition on    
investments by ,united ,states financial
 institutions that benefit the          
,government of the ,people's ,republic  
of ,china or the ,chinese ,communist    
,party4,sec4 #ab4 ,prohibition on energy
 exports to1 and investments in energy  

sector of1 the ,people's ,republic of   
,china4,sec4 #ac4 ,suspension of normal 
trade relations with 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 
,for decades and increasingly 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 ,since #bjbj1 military
 incursions by the ,people's ,republic  
of ,china into ,taiwan's air defense    
identification zone have been occurring 
at a rapidly increasing pace4 ,in #bjbb1

 such incursions occurred #a1gjj times1 
nearly double the total in #bjba1 which 
was itself almost triple the #bjbj      
total4  7#f7 ,since #bjba1 there has    
been a notable increase in military     
provocations by the ,people's           
,liberation ,army against ,taiwan1      
including incursions over the midline   
separating the ,people's ,republic of   
,china from ,taiwan1 holding military   
exercises in the vicinity of ,taiwan's  
controlled waters1 and performing       
live-fire exercises in the ,south ,china
 ,sea4  7#g7 ,in ,august #bjbb1 the     
,people's ,republic of ,china held      
unprecedented live-fire military        
exercises and a simulated blockade      
involving hundreds of military aircraft1
 dozens of warships1 and launches of    
short-range ballistic missiles over the 
territory of ,taiwan4  7#h7 ,the        
,people's ,republic of ,china is        
attempting to erase the midline         
separating it from ,taiwan1 increasing  
the prospects for incidental contact    

between forces of the ,people's         
,republic of ,china and ,taiwan as well 
as shorting reaction times related to   
provocations by the ,people's ,republic 
of ,china4  7#i7 ,on ,august #aj1 #bjbb1
 the ,taiwan ,affairs ,office of the    
,state ,council of the ,people's        
,republic of ,china released a white    
paper entitled ,the ,taiwan ,question   
and ,china's ,reunification in the ,new 
,era that reiterated the long-standing  
position of the ,government of the      
,people's ,republic of ,china not to    
renounce the use of force to bring about
 unification with ,taiwan and to always 
be ready to respond with the use of     
force ''' to interference by external   
forces or radical action by separatist  
elements4  7#aj7 ,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#aa7 ,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#ab7 ,on ,february 
#bd1 #bjbb1 the ,armed ,forces of the   
,russian ,federation initiated an       
unprovoked and unjustified invasion of  
,ukraine1 resulting in at least #ad1jjj 
civilian casualties1 including more than
 #e1jjj deaths4  7#ac7 ,the ,russian    
,federation invasion has destabilized   
global markets and supply chains1 from  
energy to food1 contributing to high    
inflation and recession in the ,united  
,states and deep cuts to global gross   
domestic product4  7#ad7 ,with the      
assistance of the ,united ,states and   
,european allies1 ,ukrainian forces have
 successfully repelled the ,russian     
,federation invasion and recaptured     
significant portions of territory taken 

by the ,russian ,federation in the      
initial stages of the invasion4  7#ae7  
,in addition to military power1 timely  
messaging around the use of 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 ,government of the
 ,people's ,republic of ,china and 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 cyberattacks1 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
 constitute a threat to the peace and   
security of the ,western ,pacific ,area 
and threaten the peace stability of the 
entire globe2 and  7,b7 undermine the   
core political1 security1 and economic  
interests of the ,united ,states at home
 and abroad2 and  7#d7 as an important  
deterrent measure against a military    
invasion of ,taiwan1 the ,government of 
the ,people's ,republic of ,china and   
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 leadership of 
the ,chinese ,communist ,party1 key     
officials of the ,government of the     
,people's ,republic of ,china1 and      
financial institutions and other        
entities affiliated with the ,chinese   
,communist ,party or the ,government of 
the ,people's ,republic of ,china2  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       
,government of the ,people's ,republic  
of ,china and 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 means 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 occurred4  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   
person ,the term foreign person means an
 individual or entity that is not a     
,united ,states person4  7#g7 ,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#h7 ,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  7,e7 a naval  
bombardment or armed blockade2 and  7,f7
 attack on any territory controlled or  
administered by the ,government of      
,taiwan1 including offshore islands     

controlled or administered by that      
,government4  7#i7 ,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 ,imposition of     
sanctions with respect to officials of  
the ,government of the ,people's        
,republic of ,china and members of the  
,chinese ,communist ,party  7a7 ,in     
general ,not later than #c days after   
making a covered determination1 the     
,president shall impose the sanctions   
described in subsection 7d7 with respect
 to officials of the ,government of the 
,people's ,republic of ,china and       
members of the ,chinese ,communist      
,party specified in subsection 7b71 to  
the extent such officials and members   
can be identified4  7b7 ,officials      

specified ,the officials specified in   
this subsection shall include-- 7#a7    
senior civilian and military officials  
of the ,people's ,republic of ,china and
 military officials who have command or 
clear and direct decision-making power  
over military campaigns1 military       
operations1 and military planning       
against ,taiwan conducted by the        
,people's ,liberation ,army2  7#b7      
senior civilian and military officials  
of the ,people's ,republic of ,china who
 have command or clear and direct       
decision-making power in the ,chinese   
,coast ,guard and the ,chinese ,people's
 ,armed ,police and are engaged in      
planning or implementing activities that
 involve the use of force against       
,taiwan2  7#c7 senior or special        
advisors to the ,general ,secretary of  
the ,chinese ,communist ,party1 the     
,chairman of the ,central ,military     
,commission1 or the ,president of the   
,people's ,republic of ,china2  7#d7    
officials of the ,government of the     

,people's ,republic of ,china who are   
members of the top decision-making      
bodies of that ,government2  7#e7 the   
highest-ranking ,chinese ,communist     
,party members of the decision-making   
bodies referred to in paragraph 7#d72   
and  7#f7 officials of the ,government  
of the ,people's ,republic of ,china in 
the intelligence agencies or security   
services who-- 7,a7 have clear and      
direct decision-making power2 and  7,b7 
have engaged in or implemented          
activities that-- 7i7 materially        
undermine the military readiness of     
,taiwan2  7ii7 overthrow or decapitate  
the ,taiwan's government2  7iii7        
debilitate ,taiwan's electric grid1     
critical infrastructure1 or             
cybersecurity systems through offensive 
electronic or cyber attacks2  7iv7      
undermine ,taiwan's democratic processes
 through campaigns to spread            
disinformation2 or  7v7 involve         
committing serious human rights abuses  
against citizens of ,taiwan1 including  

forceful transfers1 enforced            
disappearances1 unjust detainment1 or   
torture4  7c7 ,additional officials     
7#a7 ,list required ,not later than #cj 
days after making a covered             
determination1 and every #ij days       
thereafter1 the ,president shall submit 
a list to the appropriate congressional 
committees that identifies any          
additional foreign persons who-- 7,a7   
the ,president determines are officials 
specified in subsection 7b72 and  7,b7  
who were not included on any previous   
list of such officials4  7#b7           
,imposition of sanctions ,upon the      
submission of the list required under   
paragraph 7#a71 the ,president shall    
impose the sanctions described in       
subsection 7d7 with respect to each     
official included on the list4  7d7     
,sanctions described ,the sanctions     
described in this subsection to be      
imposed with respect to an official     
specified in subsection 7b7 or 7c7 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   
the official 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 ,ineligibility for visas1        
admission1 or parole  7,a7 ,visas1      
admission1 or parole ,the official shall
 be-- 7i7 inadmissible to the ,united   
,states2  7ii7 ineligible to receive a  
visa or other documentation to enter the
 ,united ,states2 and  7iii7 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  7i7 ,in general ,the visa or   
other entry documentation of the        
official shall be revoked1 regardless of
 when such visa or other entry          
documentation is or was issued4  7ii7   
,immediate effect ,a revocation under   
subparagraph 7,a7 shall-- 7,i7 take     
effect immediately2 and  7,,ii7         
automatically cancel any other valid    
visa or entry documentation that is in  
the official's possession4  7e7         
,exception for compliance with          
international obligations and law       
enforcement activities ,sanctions under 
this section shall not apply with       
respect to an official if-- 7#a7        
admitting or paroling the official 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  7f7
 ,top decision-,making bodies defined   
,in this section1 the term top          
decision-making bodies may include--    
7#a7 the ,political ,bureau of the      
,central ,committee of the ,chinese     
,communist ,party2  7#b7 the ,standing  
,committee of the ,political ,bureau of 
the ,central ,committee of the ,chinese 
,communist ,party2  7#c7 the ,central   
,military ,commission of the ,chinese   
,communist ,party2  7#d7 the ,central   
,military ,commission of the ,people's  
,republic of ,china2  7#e7 the ,national
 ,people's ,congress of the ,people's   

,republic of ,china2  7#f7 the ,central 
,committee of the ,chinese ,communist   
,party2 and  7#g7 the ,state ,council of
 the ,people's ,republic of ,china4  #g4
 ,imposition of sanctions with respect  
to financial institutions affiliated    
with the ,government of the ,people's   
,republic of ,china  7a7 ,in general    
,not later than #c days after a covered 
determination is made1 the ,secretary of
 the ,treasury-- 7#a7 shall impose the  
sanctions described in subsection 7b7   
with respect to-- 7,a7 the ,people's    
,bank of ,china2 and  7,b7 state-owned  
banks2 and  7#b7 may impose those       
sanctions with respect to any subsidiary
 of1 or successor entity to1 a          
state-owned bank4  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 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 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 financial  
institution subject to subsection 7a74  
7c7 ,state-,owned bank defined ,in this 
section1 the term state-owned bank--    

7#a7 means a bank that-- 7,a7 is        
incorporated in the ,people's ,republic 
of ,china2 and  7,b7 is owned in whole  
or part by the ,government of the       
,people's ,republic of ,china2 and  7#b7
 includes-- 7,a7 the ,export-,import    
,bank of ,china2  7,b7 the ,china       
,development ,bank2  7,c7 the           
,agricultural ,development ,bank of     
,china2  7,d7 the ,industrial and       
,commercial ,bank of ,china2  7,e7 the  
,china ,construction ,bank2  7,f7 the   
,bank of ,communications2  7,g7 the     
,agricultural ,bank of ,china2 and  7,h7
 the ,bank of ,china4  #h4 ,imposition  
of sanctions with respect to entities   
owned by or affiliated with the         
,government of the ,people's ,republic  
of ,china or 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 ,government of   

the ,people's ,republic of ,china or the
 ,chinese ,communist ,party has an      
ownership interest in2 or  7#b7 is      
otherwise affiliated with the           
,government of the ,people's ,republic  
of ,china or 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 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
  #i4 ,prohibition on transfers of funds
 involving the ,people's ,republic of   
,china  7a7 ,in general ,except as      
provided by subsection 7b71 not later   
than #c days after a covered            
determination is made1 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 officials of the    
,government of the ,people's ,republic  
of ,china or 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  #aj4 ,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 ,government of the ,people's   
,republic of ,china or the ,chinese     
,communist ,party2 or  7#b7 an entity   
that-- 7,a7 the ,government of the      
,people's ,republic of ,china or the    

,chinese ,communist ,party has an       
ownership interest in2 or  7,b7 is      
otherwise affiliated with the           
,government of the ,people's ,republic  
of ,china or 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    
#aa4 ,prohibition on investments by     
,united ,states financial institutions  
that benefit the ,government of the     
,people's ,republic of ,china or 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       
,government of the ,people's ,republic  
of ,china or the ,chinese ,communist    
,party2 or  7,b7 the ,people's          
,liberation ,army2 or  7#b7 for the     
benefit of any priority industrial      
sector identified 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  #ab4 ,prohibition on  
energy exports to1 and investments in   
energy sector of1 the ,people's         
,republic of ,china  7a7 ,prohibition on
 exports  7#a7 ,in general ,on and after
 the date that is #c days after a       
covered determination is made1 the      

,secretary of ,commerce shall prohibit1 
under the ,export ,control ,reform ,act 
of #bjah 7#ej ,u4,s4,c4 #dhja et seq471 
the export1 reexport1 or in-country     
transfer to or in the ,people's         
,republic of ,china any energy or energy
 product produced in the ,united        
,states4  7#b7 ,definitions ,in this    
subsection1 the terms export1 in-country
 transfer1 reexport1 and ,united ,states
 person have the meanings given those   
terms in section #agdb of the ,export   
,control ,reform ,act of #bjah 7#ej     
,u4,s4,c4 #dhja74  7b7 ,prohibition on  
investments ,on and after the date that 
is #c days after a covered determination
 is made1 a ,united ,states person may  
not make an investment in the energy    
sector of the ,people's ,republic of    
,china4  #ac4 ,suspension of normal     
trade relations with the ,people's      
,republic of ,china ,notwithstanding the
 provisions of title ,i of ,public ,law 
#ajf-bhf 7#aad ,stat4 #hhj7 or any other
 provision of law1 beginning on the date

 that is #c days after a covered        
determination is made1 normal trade     
relations treatment shall not apply     
pursuant to section #aja7;a7 of that    
,act to the products of the ,people's   
,republic of ,china4  #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