I

104TH CONGRESS

2D SESSION H. R. 3577

To oppose the provision of assistance to the People’s Republic of China

by any international financial institution.

IN THE HOUSE OF REPRESENTATIVES

JUNE 4, 1996

Mr. SOLOMON (for himself, Mr. GILMAN, and Mr. COX of California) introduced the following bill; which was referred to the Committee on Banking

and Financial Services

A BILL

To oppose the provision of assistance to the People’s

Republic of China by any international financial institution.

1 Be it enacted by the Senate and House of Representa2 tives of the United States of America in Congress assembled,

3 SECTION 1. POSITION OF THE UNITED STATES IN INTER4 NATIONAL FINANCIAL INSTITUTIONS RE5 GARDING ASSISTANCE TO THE PEOPLE’S RE6 PUBLIC OF CHINA.

7 The Secretary of the Treasury should instruct the

8 United States Executive Director of each international fi9 nancial institution (as defined in section 1701(c)(2) of the

10 International Financial Institutions Act) to use the voice
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1 and vote of the United States to oppose the provision of

2 any assistance, directly or indirectly, by the institution to

3 the government of the People’s Republic of China, any cit4 izen or national of the People’s Republic of China in the

5 People’s Republic of China, or any entity established in

6 the People’s Republic of China, unless there is in effect

7 a certification to Congress by the President of the United

8 States that—

9 (1) the government of the People’s Republic of

10 China respects internationally recognized human

11 rights;

12 (2) the People’s Republic of China has re13 nounced the use of force as a means to resolving its

14 differences with the Republic of China on Taiwan;

15 (3) the People’s Republic of China is in strict

16 compliance with all United States laws pertaining to

17 nonproliferation of advanced weaponry and weapons

18 of mass destruction;

19 (4) the People’s Republic of China is abiding by

20 the Memorandum of Understanding with the United

21 States regarding intellectual property rights, signed

22 in March 1995; and

23 (5) the People’s Republic of China is pursuing

24 environmentally sound development practices.
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1 SEC. 2. LIMITATION ON PROVISION OF FEDERAL FUNDS TO

2 INTERNATIONAL FINANCIAL INSTITUTIONS

3 THAT PROVIDE ASSISTANCE TO THE PEO4 PLE’S REPUBLIC OF CHINA.

5 If an international financial institution (as defined in

6 section 1701(c)(2) of the International Financial Institu7 tions Act) provides assistance, directly or indirectly, to the

8 People’s Republic of China, any citizen or national of the

9 People’s Republic of China in the People’s Republic of

10 China, or any entity established in the People’s Republic

11 of China, then the United States shall withhold from pay12 ment to the institution, from amounts that would other13 wise be paid by the United States to the institution, the

14 amount that the Secretary of the Treasury determines was

15 the United States portion of the amount necessary to sup16 port the loans provided to the People’s Republic of China

17 by the institution during the preceding fiscal year of the

18 institution, unless a certification described in section 1 of

19 this Act is in effect.

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