tiations, the Secretary of State shall submit to the appro-
priate congressional committees a report described in sub-
section (b). 
(b) REPORT.—The report described in this subsection 
shall include information concerning strategies to encour-
age and support developing countries that are facing a se-
vere health and economic crisis due to China’s actions dur-
ing the spread of the virus responsible for COVID–19 and 
indebted to China to freeze, repossess, and seize Chinese 
assets and holdings in each such country, renege on loans 
or debt, and expropriate ports in order to fund response 
efforts to the spread of the virus responsible for COVID– 
19 if China does not provide compensation to such devel-
oping countries. 
(c) DEFINITIONS.—In this section: 
(1) APPROPRIATE
CONGRESSIONAL
COMMIT-
TEES.—The term ‘‘appropriate congressional com-
mittees’’ means— 
(A) the Committee on Foreign Affairs of 
the House of Representatives; and 
(B) the Committee on Foreign Relations of 
the Senate. 
(2) CHINESE
ASSETS
AND
HOLDINGS.—The 
term ‘‘Chinese assets and holdings’’ means the fol-
lowing entities in a developing country— 
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(A) Chinese state-owned entities; 
(B) Chinese entities financed, directed, or 
controlled by China or the Chinese Communist 
Party; or 
(C) entities organized under the laws of a 
developing country that are financed, directed, 
or controlled by China or the Chinese Com-
munist Party. 
SEC. 10. SUSPENSION OF REQUESTS MADE BY CHINESE EN-
TITIES TO ACQUIRE UNITED STATES ENTI-
TIES UNDER CERTAIN CIRCUMSTANCES. 
(a) IN GENERAL.—Not earlier than 60 days after the 
date that the Secretary of State enters into negotiations 
with China concerning a bilateral agreement on compensa-
tion pursuant to section 7, the President shall suspend re-
view of requests made by a Chinese entity to acquire a 
United States entity to the Committee on Foreign Invest-
ment in the United States. 
(b) APPLICATION.—Subsection (a) shall only apply if 
China did not enter into, or abide by, a contract or agree-
ment relating to such negotiations pursuant to section 7, 
and such suspension shall be lifted if such contract or 
agreement is established. 
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SEC. 11. PROHIBITION ON PROCUREMENT OF CERTAIN 
PRODUCTS FROM A COVERED FOREIGN ENTI-
TY, INCLUDING PRODUCTS INTENDED TO BE 
INCLUDED IN THE STRATEGIC NATIONAL 
STOCKPILE. 
(a) PROHIBITION ON USE OF FEDERAL FUNDS FOR 
FOREIGN PROCUREMENT.—No Federal funds may be 
used to procure by contract, subcontract, grant, coopera-
tive agreement, or otherwise any product sourced, manu-
factured, or assembled in whole or in part by a covered 
foreign entity that poses a supply chain risk to the na-
tional security of the United States, including products 
identified in the report required under subsection (b). 
(b) REPORT.— 
(1) IN GENERAL.—Not later than 60 days after 
the date of the enactment of this Act, the President 
shall submit to the appropriate congressional com-
mittees a report concerning supply chain risks and 
vulnerabilities posed by a covered foreign entity to 
the national security, including health security, of 
the United States, and methods to mitigate such 
risks and vulnerabilities. 
(2) MATTERS INCLUDED.—The report required 
under paragraph (1) shall include information relat-
ing to such business sectors: 
(A) Pharmaceutical. 
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(B) Medical. 
(C) Rare earth material. 
(D) Cybersecurity. 
(E) Information security. 
(F) Communication technology, including 
fifth generation technology. 
(G) Electronics. 
(c) WAIVER.—The President may waive the prohibi-
tions under this section with respect to a product if the 
President determines and reports to the appropriate con-
gressional committees that such waiver is in the national 
security interests of the United States. 
(d) TERMINATION.—The President may terminate 
the prohibition with respect to a product if the President 
determines and reports to the appropriate congressional 
committees not less than 15 days before such termination 
takes effect that China— 
(1) acknowledges intentionally distorting and 
concealing information concerning the spread of the 
virus responsible for COVID–19; and 
(2) provides compensation to the United States 
for actions described in paragraph (1), which 
caused— 
(A) avoidable loss of life, health, or prop-
erty of citizens of the United States; and 
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(B) damage to the national economy of the 
United States. 
(e) DEFINITIONS.—In this section: 
(1) APPROPRIATE
CONGRESSIONAL
COMMIT-
TEES.—The term ‘‘appropriate congressional com-
mittees’’ means— 
(A) the Committee on Foreign Affairs of 
the House of Representatives; 
(B) the Committee on Energy and Com-
merce of the House of Representatives; 
(C) the Committee on Homeland Security 
of the House of Representatives; 
(D) the Committee on Armed Services of 
the House of Representatives; 
(E) the Committee on Veterans’ Affairs of 
the House of Representatives; 
(F) the Committee on Ways and Means of 
the House of Representatives; 
(G) the Committee on Foreign Relations of 
the Senate; 
(H) the Committee on Health, Education, 
Labor, and Pensions of the Senate; 
(I) the Committee on Homeland Security 
and Governmental Affairs of the Senate; 
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(4) Information and communications tech-
nology. 
(5) Science. 
(6) Defense industries. 
(c) DEFINITIONS.—In this section: 
(1) APPROPRIATE
CONGRESSIONAL
COMMIT-
TEES.—The term ‘‘appropriate congressional com-
mittees’’ means— 
(A) the Committee on Foreign Affairs of 
the House of Representatives; 
(B) the Committee on Energy and Com-
merce of the House of Representatives; 
(C) the Committee on Financial Services of 
the House of Representatives; 
(D) the Committee on Foreign Relations of 
the Senate; 
(E) the Committee on Commerce, Science, 
and Transportation of the Senate; and 
(F) the Committee on Finance of the Sen-
ate. 
(2) PERSON.—The term ‘‘person’’ means— 
(A) a natural person; 
(B) a corporation, business association, 
partnership, society, trust, financial institution, 
insurer, underwriter, guarantor, and any other 
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business organization, any other nongovern-
mental entity, organization, or group, or any 
government or agency thereof; and 
(C) any successor to any entity described 
in subparagraph (B). 
(3) 
UNITED
STATES
PERSON.—The 
term 
‘‘United States person’’ means— 
(A) any individual who is a citizen or na-
tional of the United States or who is an indi-
vidual described in subparagraph (B) of section 
274B(a)(3) of the Immigration and Nationality 
Act (8 U.S.C. 1324b(a)(3)); or 
(B) a corporation or other legal entity 
which is organized under the laws of the United 
States, any State or territory thereof, or the 
District of Columbia. 
SEC. 13. RESTRICTION ON FEDERAL FUNDS TO PROPOSE, 
FINALIZE, IMPLEMENT, OR ENFORCE ANY 
RULE THAT RECONSIDERS OR AMENDS CER-
TAIN BUREAU OF INDUSTRY AND SECURITY 
RULES. 
No Federal funds may be used to propose, finalize, 
implement, or enforce any rule that reconsiders or amends 
Bureau of Industry and Security’s— 
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(1) rule dated April 28, 2020, and titled, 
‘‘Elimination of License Exception Civil End Users 
(CIV)’’ (85 Fed. Reg. 23470); or 
(2) rule dated April 28, 2020, and titled, ‘‘Ex-
pansion of Export, Reexport, and Transfer (in-Coun-
try) Controls for Military End Use or Military End 
Users in the People’s Republic of China, Russia, or 
Venezuela’’ (85 Fed. Reg. 23459). 
SEC. 14. AUTHORIZATION OF SANCTIONS. 
(a) IN GENERAL.—The President shall impose the 
sanctions described in subsection (b) with respect to a for-
eign person the President determines, based on credible 
evidence, is one of the following: 
(1) A government official, or a senior associate 
of such an official, of China. 
(2) A Chinese manufacturer or supplier, or a 
corporate officer of, or a principal shareholder with 
controlling interests in, such a manufacturer or sup-
plier, in the following industries: 
(A) Artificial intelligence. 
(B) Genetic engineering technologies. 
(C) Semiconductors. 
(D) Lithium battery manufacturing. 
(E) High-capacity computing. 
(F) Quantum computing. 
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(G) Medical equipment. 
(H) Pharmaceuticals. 
(I) Robotics. 
(J) Biotechnology. 
(3) An individual, corporate officer, or principal 
shareholder with controlling interests in a medical 
equipment supplier or pharmaceutical manufacturer 
entity that profited from the global response to the 
spread of the virus responsible for COVID–19. 
(4) A citizen of China who the President deter-
mines to— 
(A) be responsible for or complicit in, or to 
have engaged in, the misappropriation, receipt, 
or use of intellectual property stolen from 
United States persons if that misappropriation, 
receipt, or use is reasonably likely to result in, 
or has materially contributed to, a significant 
threat to the national security, foreign policy, or 
economy of the United States; 
(B) have materially assisted, sponsored, or 
provided financial, material, or technological 
support for, or goods or services to or in sup-
port of— 
(i) any activity described in subpara-
graph (A); or 
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(ii) any person the property and inter-
ests in property of which are blocked pur-
suant to subsection (b)(1); 
(C) be owned or controlled by, or to have 
acted or purported to act for or on behalf of, 
directly or indirectly, any person the property 
and interests in property of which are blocked 
pursuant to subsection (b)(1); 
(D) have attempted to engage in any of 
the activity described in subparagraph (A), (B), 
or (C); or 
(E) be a corporate officer of, or a principal 
shareholder with controlling interests in, an en-
tity described in any of subparagraph (A), (B), 
(C), or (D). 
(5) A Chinese state-owned entity or a Chinese 
entity financed, directed, or controlled by the Gov-
ernment of China or the Chinese Communist Party, 
that the President determines to, on or after the 
date of the enactment of this Act— 
(A) be responsible for or complicit in, or to 
have engaged in, censorship, surveillance, or 
any other similar or related activity through 
means of telecommunications, including the 
internet; 
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(B) have materially assisted, sponsored, or 
provided financial, material, or technological 
support for, or goods or services to or in sup-
port of— 
(i) any activity described in subpara-
graph (A); or 
(ii) any person the property and inter-
ests in property of which are blocked pur-
suant to subsection (b)(1); 
(C) be owned or controlled by, or to have 
acted or purported to act for or on behalf of, 
directly or indirectly, any person the property 
and interests in property of which are blocked 
pursuant to subsection (b)(1); 
(D) have attempted to engage in any of 
the activity described in subparagraph (A), (B), 
or (C); or 
(E) be a corporate officer of, or a principal 
shareholder with controlling interests in, an en-
tity described in any of subparagraph (A), (B), 
(C), or (D). 
(b) SANCTIONS
DESCRIBED.—The sanctions de-
scribed in this subsection are the following: 
(1) ASSET BLOCKING.—The President shall ex-
ercise all of the powers granted to the President 
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under the International Emergency Economic Pow-
ers Act (50 U.S.C. 1701 et seq.) to the extent nec-
essary to block and prohibit all transactions in prop-
erty and interests in property of a foreign person 
identified in the report required under subsection (a) 
if such property and interests in property are in the 
United States, come within the United States, or 
come within the possession or control of a United 
States person. 
(2) INELIGIBILITY FOR VISAS, ADMISSION, OR 
PAROLE.— 
(A) VISAS, ADMISSION, OR
PAROLE.—A 
foreign person described in subsection (a) and 
his or her immediate family members is— 
(i) inadmissible to the United States; 
(ii) ineligible to receive a visa or other 
documentation to enter the United States; 
and 
(iii) otherwise ineligible to be admitted 
or paroled into the United States or to re-
ceive any other benefit under the Immigra-
tion and Nationality Act (8 U.S.C. 1101 et 
seq.). 
(B) CURRENT VISA REVOKED.— 
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(i) IN
GENERAL.—A foreign person 
described in subsection (a) is subject to 
revocation of any visa or other entry docu-
mentation regardless of when the visa or 
other entry documentation is or was 
issued. 
(ii) IMMEDIATE
EFFECT.—A revoca-
tion under clause (i) shall— 
(I) take effect immediately; and 
(II) automatically cancel any 
other valid visa or entry documenta-
tion that is in the alien’s possession. 
(C) EXCEPTION TO COMPLY WITH INTER-
NATIONAL OBLIGATIONS.—Sanctions under this 
paragraph shall not apply with respect to a for-
eign person if admitting or paroling such per-
son into the United States is necessary to per-
mit the United States to comply with the 
Agreement regarding the Headquarters of the 
United Nations, signed at Lake Success June 
26, 1947, and entered into force November 21, 
1947, between the United Nations and the 
United States, or other applicable international 
obligations. 
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(c) IMPLEMENTATION.—The President may exercise 
all authorities provided under sections 203 and 205 of the 
International Emergency Economic Powers Act (50 
U.S.C. 1702 and 1704) to carry out this section. 
(d) WAIVER.—The President may waive the applica-
tion of sanctions under this section with respect to a for-
eign person identified in the report required under sub-
section (a) if the President determines and certifies to the 
appropriate congressional committees that such a waiver 
is in the national interest of the United States. 
(e) TERMINATION OF SANCTIONS.—The President 
may terminate the application of sanctions under this sec-
tion with respect to a foreign person if the President deter-
mines and reports to the appropriate congressional com-
mittees not less than 15 days before such termination 
takes effect that China— 
(1) acknowledges intentionally distorting and 
concealing information concerning the spread of the 
virus responsible for COVID–19; and 
(2) provides compensation to the United States 
for such actions described in paragraph (1), which 
caused an avoidable injury to— 
(A) the life, health, and property of the 
citizens of the United States; and 
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(B) the national economy of the United 
States. 
(f) EXCEPTION RELATING TO THE IMPORTATION OF 
GOODS.— 
(1) IN GENERAL.—The authorities and require-
ments to impose sanctions under this section shall 
not include the authority or requirement to impose 
sanctions on the importation of goods. 
(2) GOOD
DEFINED.—In this subsection, the 
term ‘‘good’’ means any article, natural or man- 
made substance, material, supply or manufactured 
product, including inspection and test equipment, 
and excluding technical data. 
(g) DEFINITIONS.—In this section: 
(1) APPROPRIATE
CONGRESSIONAL
COMMIT-
TEES.—The term ‘‘appropriate congressional com-
mittees’’ means— 
(A) the Committee on Foreign Affairs of 
the House of Representatives; and 
(B) the Committee on Foreign Relations of 
the Senate. 
(2) FOREIGN PERSON.—The term ‘‘foreign per-
son’’ means— 
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(A) an individual who is not a citizen of 
the United States or an alien admitted for per-
manent residence to the United States; or 
(B) a corporation, partnership, or other 
entity which is created or organized under the 
laws of a foreign country or which has its prin-
cipal place of business outside the United 
States. 
SEC. 15. EXPORT CONTROLS ON CERTAIN TELECOMMUNI-
CATION EQUIPMENT. 
(a) IN GENERAL.—Section 1754 of the John S. 
McCain National Defense Authorization Act for Fiscal 
Year 2019 (50 U.S.C. 4813) is amended by adding at the 
end the following: 
‘‘(g) 
CERTAIN
TELECOMMUNICATIONS
EQUIP-
MENT.— 
‘‘(1) IN GENERAL.—The Secretary, in consulta-
tion with the Secretary of State, the Secretary of 
Defense, and the heads of other appropriate Federal 
departments and agencies, shall establish and main-
tain a list of goods and technology that would serve 
the primary purpose of assisting, or be specifically 
configured to assist, the People’s Republic of China 
in acquiring the capability to carry out censorship, 
surveillance, or any other similar or related activity 
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through means of telecommunications, including the 
internet, the prohibition or licensing of which would 
be effective in barring acquisition or enhancement of 
such capability. 
‘‘(2) PROHIBITION.—Notwithstanding any other 
provision of law, the Secretary shall prohibit the ex-
port of goods or technology on the list established 
under paragraph (1) to Chinese state-owned entities 
or Chinese entities financed, directed, or controlled 
by the People’s Republic of China or the Chinese 
Communist Party. 
‘‘(3) WAIVER.—The President may waive the 
application of paragraph (2) with respect to export 
of goods or technology on the list established under 
paragraph (1) on a case-by-case basis if the Presi-
dent determines and certifies to Congress that it is 
in the national interests of the United States to do 
so. 
‘‘(4) DEFINITIONS.—In this subsection, the 
term ‘Internet’ has the meaning given the term in 
section 231(e)(3) of the Communications Act of 
1934 (47 U.S.C. 231(e)(3)).’’. 
(b) REGULATIONS.— 
(1) IN GENERAL.—Not later than 90 days after 
the date of the enactment of this Act, the President 
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shall revise the Export Administration Regulations 
and any other regulations necessary to carry out the 
amendment made by subsection (a). 
(2) EXPORT
ADMINISTRATION
REGULATIONS 
DEFINED.—In this subsection, the term ‘‘Export Ad-
ministration Regulations’’ means the Export Admin-
istration Regulations as maintained and amended 
under the authority of the International Emergency 
Economic Powers Act and codified, as of the date of 
the enactment of this Act, in subchapter C of chap-
ter VII of title 15, Code of Federal Regulations. 
(c) EFFECTIVE DATE.—Section 1754(g) of the John 
S. McCain National Defense Authorization Act for Fiscal 
Year 2019 (50 U.S.C. 4813(g)), as added by subsection 
(a), shall take effect on the date of the enactment of this 
Act. 
SEC. 16. VISA BAN ON RESEARCHERS AFFILIATED WITH 
THE PLA. 
(a) IDENTIFICATION OF PLA–SUPPORTED INSTITU-
TIONS.— 
(1) IN GENERAL.—Not later than 60 days after 
the date of the enactment of this Act, and annually 
thereafter, the Secretary of Homeland Security shall 
publish a list identifying the research, engineering, 
and scientific institutions that the Secretary of 
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Homeland Security determines are affiliated with, or 
funded by, the Chinese People’s Liberation Army. 
(2) FORM.—The list published under paragraph 
(1) shall be unclassified and publicly accessible, but 
may include a classified annex. 
(b) EXCLUSION FROM UNITED STATES.—Except as 
provided in subsections (d) and (e), the Secretary of State 
may not issue a visa under subparagraph (F) or (J) of 
section 101(a)(15) of the Immigration and Nationality Act 
(8 U.S.C. 1101(a)(15)), and the Secretary of Homeland 
Security may not admit, parole into the United States, 
or otherwise provide nonimmigrant status under such sub-
paragraphs, to any alien who is, or has previously been, 
employed, sponsored, or funded by any entity identified 
on the most recently published list under subsection (a). 
(c) INQUIRY.—Before issuing a visa described in sub-
section (b) to a national of China, the Secretary of State, 
the Secretary of Homeland Security, a consular officer, 
or a U.S. Customs and Border Protection officer shall ask 
the alien seeking such visa if the alien is, or has previously 
been, employed, funded, or otherwise sponsored by the 
Chinese People’s Liberation Army or any of the affiliated 
institutions identified on the most recently published list 
under subsection (a). 
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(d) EXCEPTION TO COMPLY WITH UNITED NATIONS 
HEADQUARTERS AGREEMENT.—Subsection (b) shall not 
apply to an individual if admitting the individual to the 
United States is necessary to permit the United States 
to comply with the Agreement between the United Nations 
and the United States of America regarding the Head-
quarters of the United Nations, signed June 26, 1947, 
and entered into force November 21, 1947, and other ap-
plicable international obligations. 
(e) NATIONAL SECURITY WAIVER.—The President, 
or a designee of the President, may waive subsection (b) 
if the President or such designee certifies in writing to 
the appropriate congressional committees that such waiver 
is in the national security interest of the United States. 
SEC. 17. PROHIBITION ON INVESTMENT OF TSP I FUND IN 
CHINA. 
(a) IN GENERAL.—Section 8438(b)(4) of title 5, 
United States Code, is amended by adding at the end the 
following: 
‘‘(C) The index selected by the Board 
under subparagraph (A) may not include invest-
ments in any stock of an entity based in the 
People’s Republic of China.’’. 
(b) DIVESTITURE OF ASSETS.—Not later than 60 
days after the date of the enactment of this Act, the Fed-
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eral Retirement Thrift Investment Board (as established 
under section 8472(a) of title 5, United States Code), in 
consultation with the manager of the Thrift Savings Fund, 
shall— 
(1) review whether any sums in the Thrift Sav-
ings Fund are invested in contravention of subpara-
graph (C) of section 8438(b)(4) of such title, as 
added by subsection (a); 
(2) if any sums are so invested, and consistent 
with the legal and fiduciary duties provided under 
chapter 84 of such title or any other provision of 
law, divest such sums; and 
(3) re-invest the divested sums in investments 
that do not contradict such subparagraph. 
SEC. 18. PROTECTING PHARMACEUTICAL ACCESS FOR 
AMERICANS. 
(a) LIST OF CRITICAL DRUGS PRODUCED EXCLU-
SIVELY IN CHINA.— 
(1) IN GENERAL.—Not later than 30 days after 
the date of enactment of this Act, the Commissioner 
of Food and Drugs shall submit to the Congress a 
list of all critical drugs and critical active pharma-
ceutical ingredients— 
(A) that are produced in China; and 
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(B) the supply of which would be disrupted 
for United States consumers if such production 
were discontinued or interrupted. 
(2) DEFINITIONS.—In this subsection: 
(A) The term ‘‘critical active pharma-
ceutical ingredient’’ means an active pharma-
ceutical ingredient in a critical drug. 
(B) The term ‘‘critical drug’’ means a 
product that— 
(i) is a drug (as defined in section 
201 of the Federal Food, Drug, and Cos-
metic Act (21 U.S.C. 321)) for which the 
approval of an application submitted under 
subsection (b) or (j) of section 505 of such 
Act (21 U.S.C. 355) or subsection (a) or 
(k) of section 351 of the Public Health 
Service Act (42 U.S.C. 352) remains in ef-
fect; and 
(ii) is deemed by the Commissioner of 
Food and Drugs to be critical to the health 
and safety of United States consumers. 
(C) The term ‘‘produce’’ means manufac-
tured, prepared, propagated, compounded, or 
processed, in whole or in part. 
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(b) CERTIFICATION CONCERNING CHINESE PHARMA-
CEUTICAL REGULATION.— 
(1) IN
GENERAL.—Not later than 180 days 
after the date of enactment of this Act, the Commis-
sioner of Food and Drugs (in this subsection re-
ferred to as the ‘‘Commissioner’’) shall certify to the 
Congress whether the Chinese pharmaceutical indus-
try is being regulated for safety (including regula-
tion of such industry by Chinese authorities and the 
Food and Drug Administration) to substantially the 
same degree as the United States pharmaceutical in-
dustry. 
(2) INVESTIGATIONS.—The Commissioner— 
(A) shall conduct such investigations as 
may be necessary to make the certification re-
quired by paragraph (1); and 
(B) in conducting such investigations, may 
use unannounced inspections and demand all 
necessary onsite access. 
(3) PLAN.—If the Commissioner certifies pur-
suant to paragraph (1) that the Chinese pharma-
ceutical industry is not being regulated for safety to 
substantially the same degree as the United States 
pharmaceutical industry, the Commissioner shall, 
not later than 60 days after the Commissioner sub-
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mits the certification required by paragraph (1), 
submit a plan to the Congress to protect United 
States consumers from unsafe Chinese drugs. 
(c) PURCHASING PLAN.— 
(1) IN GENERAL.—Not later than 90 days after 
the date of the enactment of this Act, the Secretary 
of Defense, in coordination with the Secretary of 
Health and Human Services and the Commissioner 
of Food and Drugs, shall submit to the Congress— 
(A) a plan to ensure that by 2024 no phar-
maceutical products purchased for beneficiaries 
of health care from the Department of Defense 
or any associated program are made in part or 
in whole in China; and 
(B) an assessment of the resilience and ca-
pacity of the current supply chain and indus-
trial base to support national defense if no 
pharmaceutical products purchased for bene-
ficiaries of health care from the Department of 
Defense or any associated program are made in 
part or in whole in China, including with re-
spect to— 
(i) the manufacturing capacity of the 
United States; 
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(ii) gaps in domestic manufacturing 
capabilities, including non-existent, extinct, 
threatened, and single-point-of-failure ca-
pabilities; and 
(iii) supply chains with single points 
of failure and limited resiliency. 
(2) REQUIRED
RECOMMENDATIONS.—The as-
sessment under paragraph (1)(B) shall include rec-
ommendations— 
(A) to address critical bottlenecks in the 
supply of pharmaceutical products in the 
United States; and 
(B) to mitigate single points of failure and 
limited resilience of supply chains for pharma-
ceutical products in the United States. 
SEC. 19. REMOVAL OF CHINA’S DESIGNATION AS A DEVEL-
OPING COUNTRY IN INTERNATIONAL BODIES. 
(a) STATEMENT OF POLICY.—It is the policy of the 
United States to oppose efforts by China to use its self- 
declared status as a developing country to lessen its obli-
gations under international agreements, dispute settle-
ment proceedings, negotiations, rules, and regulations. 
(b) WORLD BANK.—The Secretary of the Treasury 
shall instruct the United States Executive Director at the 
International Bank for Reconstruction and Development 
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to pursue the removal of China from eligibility for assist-
ance from the Bank. 
(c) DESIGNATION OF CHINA AS A DEVELOPED COUN-
TRY.— 
(1) UNITED
STATES
TRADE
LAW.—Notwith-
standing any other provision of law, China shall be 
treated as a developed country for the purposes of 
United States trade law. 
(2) WTO DESIGNATION.—The President shall 
direct the United States Trade Representative to use 
the voice, vote, and influence of the United States to 
secure changes at the World Trade Organization 
to— 
(A) prevent China from receiving benefits 
under the rules and regulations of the World 
Trade Organization that are not justified by ap-
propriate economic and other indicators; and 
(B) treat China as a developed country. 
(d) UNITED NATIONS CLASSIFICATION SYSTEM.— 
The President shall direct the United States Permanent 
Representative to the United Nations to use the voice, 
vote, and influence of the United States— 
(1) to revise the classification system of the 
United Nations Statistics Division necessary to en-
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sure the classification of China reflects justifiable 
economic and other indicators; and 
(2) to treat China as a developed country for 
purposes of the Standard Country or Area Codes for 
Statistical Use (Series M, No. 49). 
SEC. 20. PROTECTING AMERICA FROM CYBERATTACKS. 
(a) EXEMPTIONS TO THE COMPUTER FRAUD AND 
ABUSE ACT.—Section 1030 of title 18, United States 
Code, is amended by adding at the end the following: 
‘‘(k) EXCEPTION FOR THE USE OF ATTRIBUTIONAL 
TECHNOLOGY.— 
‘‘(1) IN GENERAL.—This section shall not apply 
with respect to the use of attributional technology in 
regard to a defender who uses a program, code, or 
command for attributional purposes that beacons or 
returns locational or attributional data in response 
to a cyber intrusion in order to identify the source 
of an intrusion; if— 
‘‘(A) the program, code, or command origi-
nated on the computer of the defender but is 
copied or removed by an unauthorized user; 
‘‘(B) the program, code, or command does 
not result in the destruction of data or result 
in an impairment of the essential operating 
functionality of the attacker’s computer system, 
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or intentionally create a backdoor enabling in-
trusive access into the attacker’s computer sys-
tem; and 
‘‘(C) the defender believes the attacker is 
an agent or an affiliate of Chinese state com-
mercial actors in the United States, other Chi-
nese entities or individuals financed, directed, 
or controlled by the Chinese State, Government 
of China, or the Chinese Communist Party. 
‘‘(2) DEFINITION.—The term ‘attributional 
data’ means any digital information such as log files, 
text strings, time stamps, malware samples, identi-
fiers such as user names and Internet Protocol ad-
dresses and metadata or other digital artifacts gath-
ered through forensic analysis.’’. 
(b) EXCLUSION FROM PROSECUTION FOR CERTAIN 
COMPUTER CRIMES FOR THOSE TAKING ACTIVE CYBER 
DEFENSE MEASURES.—Section 1030 of title 18, United 
States Code, is amended by adding at the end the fol-
lowing: 
‘‘(l) ACTIVE CYBER DEFENSE MEASURES NOT A 
VIOLATION.— 
‘‘(1) IN GENERAL.—It is a defense to a crimi-
nal prosecution under this section that the conduct 
constituting the offense was an active cyber defense 
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measure if the defender believes the attacker was an 
agent or an affiliate of Chinese state commercial ac-
tors in the United States, other Chinese entities or 
individuals financed, directed, or controlled by the 
Chinese State, the Government of China, or the Chi-
nese Communist Party. 
‘‘(2) DEFINITIONS.—In this subsection— 
‘‘(A) the term ‘defender’ means a person 
or an entity that is a victim of a persistent un-
authorized intrusion of the individual entity’s 
computer; 
‘‘(B) the term ‘active cyber defense meas-
ure’— 
‘‘(i) means any measure— 
‘‘(I) undertaken by, or at the di-
rection of, a defender; and 
‘‘(II) 
consisting 
of 
accessing 
without authorization the computer of 
the attacker to the defender’s own 
network to gather information in 
order to— 
‘‘(aa) establish attribution of 
criminal activity to share with 
law 
enforcement 
and 
other 
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United States Government agen-
cies responsible for cybersecurity; 
‘‘(bb) disrupt continued un-
authorized activity against the 
defender’s own network; or 
‘‘(cc) monitor the behavior 
of an attacker to assist in devel-
oping future intrusion prevention 
or cyber defense techniques; but 
‘‘(ii) does not include conduct that— 
‘‘(I) intentionally destroys or ren-
ders inoperable information that does 
not belong to the victim that is stored 
on another person or entity’s com-
puter; 
‘‘(II) recklessly causes physical 
injury or financial loss as described 
under subsection (c)(4); 
‘‘(III) creates a threat to the 
public health or safety; 
‘‘(IV) intentionally exceeds the 
level of activity required to perform 
reconnaissance on an intermediary 
computer to allow for attribution of 
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the origin of the persistent cyber in-
trusion; 
‘‘(V) intentionally results in in-
trusive or remote access into an 
intermediary’s computer; 
‘‘(VI) intentionally results in the 
persistent disruption to a person or 
entities internet connectivity resulting 
in damages defined under subsection 
(c)(4); or 
‘‘(VII) impacts any computer de-
scribed under subsection (a)(1) re-
garding access to national security in-
formation, subsection (a)(3) regarding 
government computers, or to sub-
section (c)(4)(A)(i)(V) regarding a 
computer system used by or for a 
Government entity for the furtherance 
of the administration of justice, na-
tional defense, or national security; 
‘‘(C) the term ‘attacker’ means a person or 
an entity that is the source of the persistent un-
authorized intrusion into the victim’s computer; 
and 
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‘‘(D) the term ‘intermediary computer’ 
means a person or entity’s computer that is not 
under the ownership or primary control of the 
attacker but has been used to launch or obscure 
the origin of the persistent cyber-attack.’’. 
(c) NOTIFICATION REQUIREMENT FOR THE USE OF 
ACTIVE CYBER DEFENSE MEASURES.—Section 1030 of 
title 18, United States Code, is amended by adding the 
following: 
‘‘(m) NOTIFICATION REQUIREMENT FOR THE USE 
OF ACTIVE CYBER DEFENSE MEASURES.— 
‘‘(1) IN GENERAL.—A defender who uses an ac-
tive cyber defense measure under the preceding sec-
tion must notify the FBI National Cyber Investiga-
tive Joint Task Force and either receive a response 
from the FBI acknowledging receipt of the notifica-
tion or wait 48 hours prior to using the measure. 
‘‘(2) REQUIRED
NOTIFICATION.—Notification 
must include the type of cyber breach that the per-
son or entity was a victim of, the intended target of 
the active cyber defense measure, the steps the de-
fender plans to take to preserve evidence of the 
attacker’s criminal cyber intrusion, as well as the 
steps they plan to prevent damage to intermediary 
computers not under the ownership of the attacker 
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and other information requested by the FBI to as-
sist with oversight.’’. 
SEC. 21. ENSURING TRANSPARENCY FOR CHINESE LIST-
INGS ON U.S. EXCHANGES. 
(a) DEFINITIONS.—In this section— 
(1) the term ‘‘applicable Chinese issuer’’ means 
a Chinese issuer— 
(A) that is required to file a covered form; 
and 
(B) for which, during the period covered 
by the filing described in subparagraph (A), a 
covered foreign public accounting firm has pre-
pared an audit report for the issuer; 
(2) the term ‘‘audit report’’ has the meaning 
given the term in section 2(a) of the Sarbanes-Oxley 
Act of 2002 (15 U.S.C. 7201(a)); 
(3) the term ‘‘Board’’ means the Public Com-
pany Accounting Oversight Board; 
(4) the term ‘‘Commission’’ means the Securi-
ties and Exchange Commission; 
(5) the term ‘‘covered foreign public accounting 
firm’’ means a foreign public accounting firm that 
the Board is unable to inspect or investigate under 
the Sarbanes-Oxley Act of 2002 (15 U.S.C. 7201 et 
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seq.) because of a position taken by an authority 
outside of the United States; 
(6) the term ‘‘covered form’’— 
(A) means— 
(i) the form described in section 
249.310 of title 17, Code of Federal Regu-
lations, or any successor regulation; and 
(ii) the form described in section 
249.220f of title 17, Code of Federal Reg-
ulations, or any successor regulation; and 
(B) includes a form that— 
(i) is the equivalent of, or substan-
tially similar to, the form described in 
clause (i) or (ii) of subparagraph (A); and 
(ii) a Chinese issuer files with the 
Commission under the Securities Exchange 
Act of 1934 (15 U.S.C. 78a et seq.) or 
rules issued under that Act; 
(7) the term ‘‘covered jurisdiction’’ means the 
foreign jurisdiction in which the position described 
in paragraph (5) is taken with respect to a covered 
foreign public accounting firm that prepares an 
audit report for an applicable Chinese issuer; 
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(8) the term ‘‘exchange’’ has the meaning given 
the term in section 3(a) of the Securities Exchange 
Act of 1934 (15 U.S.C. 78a(a)); 
(9) the term ‘‘Chinese issuer’’ means any issuer 
which is the Chinese government, a national of 
China or a corporation or other organization incor-
porated or organized under the laws of China; 
(10) the term ‘‘foreign public accounting firm’’ 
has the meaning given the term in section 106(g) of 
the Sarbanes-Oxley Act of 2002 (15 U.S.C. 
7216(g)); 
(11) the term ‘‘national securities exchange’’ 
means an exchange that is registered with the Com-
mission under section 6 of the Securities Exchange 
Act of 1934 (15 U.S.C. 78f); and 
(12) the term ‘‘public accounting firm’’ has the 
meaning given the term in section 2(a) of the Sar-
banes-Oxley Act of 2002 (15 U.S.C. 7201(a)). 
(b) DISCLOSURE.— 
(1) LIST OF CERTAIN CHINESE ISSUERS AND 
COVERED FOREIGN PUBLIC ACCOUNTING FIRMS.— 
(A) IN GENERAL.—The Commission shall 
maintain a publicly available list of— 
(i) each Chinese issuer, an audit re-
port of which— 
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(I) is prepared by a foreign pub-
lic accounting firm; and 
(II) the Board is not able to in-
spect or investigate because of a posi-
tion taken by an authority that is out-
side of the United States; 
(ii) each covered foreign public ac-
counting firm that has prepared an audit 
report identified under clause (i); and 
(iii) the jurisdiction in which each cov-
ered foreign public accounting firm identi-
fied under clause (ii) is organized or oper-
ating. 
(B) ROLE OF THE BOARD.—Not less fre-
quently than annually, the Board shall provide 
to the Commission the information that is re-
quired for the Commission to carry out sub-
paragraph (A). 
(2) ANNUAL REPORT DISCLOSURE.— 
(A) DISCLOSURE.—Each applicable Chi-
nese issuer shall disclose in each covered form 
filed by the applicable Chinese issuer— 
(i) that, during the period covered by 
covered form, a covered foreign public ac-
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counting firm has prepared an audit report 
for the issuer; 
(ii) the percentage of the shares of the 
issuer owned by governmental entities in 
the foreign jurisdiction in which the issuer 
is incorporated or otherwise organized; 
(iii) whether governmental entities in 
a covered jurisdiction with respect to any 
covered foreign public accounting firm that 
has prepared an audit report for the issuer 
during the period covered by the form have 
a controlling financial interest with respect 
to the issuer; and 
(iv) the name of any official of the 
Chinese Communist Party who is a mem-
ber of the board of directors of the issuer 
or the operating entity with respect to the 
issuer. 
(B) UPDATE OF RULES.—Not later than 
270 days after the date of enactment of this 
Act, and after providing the opportunity for 
public notice and comment, the Commission 
shall make any amendments to the rules of the 
Commission that are required as a result of the 
requirements of this subsection. 
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(C) EFFECTIVE
DATE.—This subsection 
shall take effect on the date on which the Com-
mission completes the amendments required 
under paragraph (2). 
(3) DISCLOSURE BY BROKERS AND DEALERS.— 
Section 15(n) of the Securities Exchange Act of 
1934 (15 U.S.C. 78o(n)) is amended— 
(A) in paragraph (1), by striking ‘‘Com-
mission may issue’’ and all that follows through 
the period at the end and inserting the fol-
lowing: ‘‘Commission— 
‘‘(A) shall issue rules that require a broker 
and a dealer to disclose, with respect to any ad-
vice, analysis, or report of the broker or dealer 
to a retail investor regarding the securities of a 
Chinese issuer, whether a covered foreign public 
accounting firm has prepared an audit report 
for the Chinese issuer; and 
‘‘(B) in addition to the rules required 
under subparagraph (A), may issue rules desig-
nating documents or information that shall be 
provided by a broker or dealer to a retail inves-
tor before the purchase of an investment prod-
uct or service by the retail investor.’’; and 
(B) by adding at the end the following: 
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‘‘(4) DEFINITIONS.—In this subsection, the 
terms ‘audit report’, ‘covered foreign public account-
ing firm’, and ‘Chinese issuer’ have the meanings 
given the terms in section 21(a) of the Compensa-
tion for Americans Act of 2020.’’. 
(c) PROHIBITION AGAINST THE LISTING OF CERTAIN 
FIRMS ON NATIONAL SECURITIES EXCHANGES.— 
(1) IN GENERAL.—Section 6(b) of the Securi-
ties Exchange Act of 1934 (15 U.S.C. 78f(b)) is 
amended by adding at the end the following: 
‘‘(11)(A) The rules of the exchange prohibit the 
initial listing, after the date of enactment of this 
paragraph, of any security of an issuer for which a 
covered foreign public accounting firm has prepared 
an audit report. 
‘‘(B) Nothing in subparagraph (A) may be con-
strued to prevent an exchange from listing a security 
on the exchange on or after the date of enactment 
of this paragraph if that security was listed on the 
exchange or a national securities exchange before 
the date of enactment of this paragraph. 
‘‘(C) In this paragraph, the terms ‘audit report’ 
and ‘covered foreign public accounting firm’ have the 
meanings given the terms in section 2 of the Com-
pensation for Americans Act of 2020. 
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‘‘(12)(A) The rules of the exchange prohibit the 
listing of any security of a Chinese issuer that, be-
ginning in 2025, has been identified under section 
21(b)(1)(A)(i) of the Compensation for Americans 
Act of 2020 in 3 consecutive years. 
‘‘(B) Nothing in subparagraph (A) may be con-
strued to prevent an exchange from listing a security 
of a Chinese issuer described in that subparagraph 
beginning on the date on which the issuer submits 
to the Commission an audit report for the issuer 
that is prepared by a registered public accounting 
firm that the Public Company Accounting Oversight 
Board has inspected, or is able to inspect, under sec-
tion 104 of the Sarbanes-Oxley Act of 2002 (15 
U.S.C. 7214). 
‘‘(C) In this paragraph— 
‘‘(i) the terms ‘audit report’ and ‘reg-
istered public accounting firm’ have the mean-
ings given the terms in section 2(a) of the Sar-
banes-Oxley Act of 2002 (15 U.S.C. 7201(a)); 
and 
‘‘(ii) the terms ‘covered foreign public ac-
counting firm’ and ‘Chinese issuer’ have the 
meanings given the terms in section 21(a) of 
the Compensation for Americans Act of 2020.’’. 
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