Presidential Documents

76987 

Federal Register 

Vol. 88, No. 214 

Tuesday, November 7, 2023 

Title 3— 

The President 

Notice of November 3, 2023 

Continuation of the National Emergency With Respect to the 

Threat From Securities Investments That Finance Certain 

Companies of the People’s Republic of China 

On November 12, 2020, by Executive Order 13959, the President declared 

a national emergency pursuant to the International Emergency Economic 

Powers Act (50 U.S.C. 1701 et seq.) to deal with the unusual and extraordinary threat to the national security, foreign policy, and economy of the 

United States constituted by the threat from securities investments that 

finance certain companies of the People’s Republic of China (PRC). 

The President found that the PRC is exploiting United States capital to 

resource and enable the development and modernization of its military, 

intelligence, and other security apparatuses, which continues to allow the 

PRC to directly threaten the United States homeland and United States 

forces overseas. Through the national strategy of Military-Civil Fusion, the 

PRC increases the size of the country’s military-industrial complex by compelling civilian Chinese companies to support its military and intelligence 

activities. Those companies, though remaining ostensibly private and civilian, 

directly support the PRC’s military, intelligence, and security apparatuses 

and aid in their development and modernization. At the same time, those 

companies raise capital by selling securities to United States investors that 

trade on public exchanges both here and abroad, lobbying United States 

index providers and funds to include these securities in market offerings, 

and engaging in other acts to ensure access to United States capital. 

The President further found that the PRC’s military-industrial complex, by 

directly supporting the efforts of the PRC’s military, intelligence, and other 

security apparatuses, constituted an unusual and extraordinary threat to 

the national security, foreign policy, and economy of the United States. 

On January 13, 2021, the President signed Executive Order 13974 amending 

Executive Order 13959. 

On June 3, 2021, I signed Executive Order 14032, which expanded the 

scope of the national emergency declared in Executive Order 13959. I found 

that additional steps are necessary to address that national emergency, including the threat posed by the military-industrial complex of the PRC and 

its involvement in military, intelligence, and security research and development programs, and weapons and related equipment production under the 

PRC’s Military-Civil Fusion strategy. In addition, I found that the use of 

Chinese surveillance technology outside the PRC and the development or 

use of Chinese surveillance technology to facilitate repression or serious 

human rights abuse constituted unusual and extraordinary threats to the 

national security, foreign policy, and economy of the United States, and 

I expanded the national emergency to address these threats. Executive Order 

14032 amended Executive Order 13959 and revoked Executive Order 13974 

in its entirety. 

The threat from securities investments that finance certain companies of 

the PRC and certain uses and development of Chinese surveillance technology 

continue to pose an unusual and extraordinary threat to the national security, 

foreign policy, and economy of the United States. 

For this reason, the national emergency declared in Executive Order 13959 

of November 12, 2020, expanded in scope by Executive Order 14032 of 


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76988 Federal Register / Vol. 88, No. 214 / Tuesday, November 7, 2023 / Presidential Documents 

June 3, 2021, must continue in effect beyond November 12, 2023. Therefore, 

in accordance with section 202(d) of the National Emergencies Act (50 

U.S.C. 1622(d)), I am continuing for 1 year the national emergency declared 

in Executive Order 13959 with respect to the threat from securities investments that finance certain companies of the PRC and expanded in Executive 

Order 14032. 

This notice shall be published in the Federal Register and transmitted to 

the Congress. 

THE WHITE HOUSE, 

November 3, 2023. 

[FR Doc. 2023–24776 

Filed 11–6–23; 11:15 am] 

Billing code 3395–F4–P 


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