I 
118TH CONGRESS 
1ST SESSION H. R. 5926 
To require the review by the Committee on Foreign Investment in the United 
States of greenfield investments by the People’s Republic of China. 
IN THE HOUSE OF REPRESENTATIVES 
OCTOBER 11, 2023 
Mr. MOOLENAAR (for himself, Mr. WEBER of Texas, Ms. MACE, and Mr. 
BISHOP of North Carolina) introduced the following bill 
OCTOBER 25, 2023 
Referred to the Committee on Financial Services, and in addition to the Com-
mittees on Foreign Affairs, and Energy and Commerce, for a period to 
be subsequently determined by the Speaker, in each case for consider-
ation of such provisions as fall within the jurisdiction of the committee 
concerned 
A BILL 
To require the review by the Committee on Foreign Invest-
ment in the United States of greenfield investments by 
the People’s Republic of China. 
Be it enacted by the Senate and House of Representa-
tives of the United States of America in Congress assembled, 
SECTION 1. SHORT TITLE. 
This Act may be cited as the ‘‘Exposing China’s Belt 
and Road Investment in America Act of 2023’’. 
VerDate Sep 11 2014 
23:43 Nov 02, 2023
Jkt 049200
PO 00000
Frm 00001
Fmt 6652
Sfmt 6201
E:\BILLS\H5926.IH
H5926
kjohnson on DSK7ZCZBW3PROD with $$_JOB
SEC. 2. REVIEW BY COMMITTEE ON FOREIGN INVESTMENT 
IN THE UNITED STATES OF GREENFIELD IN-
VESTMENTS 
BY 
PEOPLE’S 
REPUBLIC 
OF 
CHINA. 
(a) INCLUSION IN DEFINITION OF COVERED TRANS-
ACTION.—Section 721(a)(4) of the Defense Production 
Act of 1950 (50 U.S.C. 4565(a)(4)) is amended— 
(1) in subparagraph (A)— 
(A) in clause (i), by striking ‘‘; and’’ and 
inserting a semicolon; 
(B) in clause (ii), by striking the period at 
the end and inserting ‘‘; and’’; and 
(C) by adding at the end the following: 
‘‘(iii) any transaction described in 
subparagraph (B)(vi) proposed or pending 
on or after the date of the enactment of 
this clause.’’; and 
(2) in subparagraph (B), by adding at the end 
the following: 
‘‘(vi) An investment by a foreign per-
son that— 
‘‘(I) involves— 
‘‘(aa) 
the 
completed 
or 
planned purchase or lease by, or 
a concession to, the foreign per-
VerDate Sep 11 2014 
23:43 Nov 02, 2023
Jkt 049200
PO 00000
Frm 00002
Fmt 6652
Sfmt 6201
E:\BILLS\H5926.IH
H5926
kjohnson on DSK7ZCZBW3PROD with $$_JOB
son of private or public real es-
tate in the United States; and 
‘‘(bb) the establishment of a 
United States business to operate 
a factory or other facility on that 
real estate; and 
‘‘(II) could result in control, in-
cluding through formal or informal 
arrangements to act in concert, of 
that United States business by— 
‘‘(aa) the Government of the 
People’s Republic of China; 
‘‘(bb) a person owned or 
controlled by, or acting on behalf 
of, that Government; 
‘‘(cc) an entity in which that 
Government has, directly or indi-
rectly, including through formal 
or informal arrangements to act 
in concert, a 5 percent or greater 
interest; 
‘‘(dd) an entity in which 
that Government has, directly or 
indirectly, the right or power to 
appoint, or approve the appoint-
VerDate Sep 11 2014 
23:43 Nov 02, 2023
Jkt 049200
PO 00000
Frm 00003
Fmt 6652
Sfmt 6201
E:\BILLS\H5926.IH
H5926
kjohnson on DSK7ZCZBW3PROD with $$_JOB
ment of, any members of the 
board of directors, board of su-
pervisors, or an equivalent gov-
erning body (including external 
directors and other individuals 
who perform the duties usually 
associated with such titles) or of-
ficers (including the president, 
senior vice president, executive 
vice president, and other individ-
uals who perform duties normally 
associated with such titles) of 
any other entity that held, di-
rectly or indirectly, including 
through formal or informal ar-
rangements to act in concert, a 5 
percent or greater interest in the 
entity in the preceding 3 years; 
or 
‘‘(ee) an entity in which any 
members or officers described in 
item (dd) of any other entity 
holding, directly or indirectly, in-
cluding through formal or infor-
mal arrangements to act in con-
VerDate Sep 11 2014 
23:43 Nov 02, 2023
Jkt 049200
PO 00000
Frm 00004
Fmt 6652
Sfmt 6201
E:\BILLS\H5926.IH
H5926
kjohnson on DSK7ZCZBW3PROD with $$_JOB
cert, a 5 percent or greater inter-
est in the entity are members of 
the Chinese Communist Party or 
have been members of the Chi-
nese Communist Party in the 
preceding 3 years.’’. 
(b) DEFINITION OF GOVERNMENT OF PEOPLE’S RE-
PUBLIC OF CHINA.—Section 721(a) of the Defense Pro-
duction Act of 1950 (50 U.S.C. 4565(a)) is amended— 
(1) by redesignating paragraphs (8) through 
(13) as paragraphs (9) through (14), respectively; 
and 
(2) by inserting after paragraph (7) the fol-
lowing: 
‘‘(7) GOVERNMENT OF PEOPLE’S REPUBLIC OF 
CHINA.—The term ‘Government of the People’s Re-
public of China’ includes the national and sub-
national governments within the People’s Republic of 
China, including any departments, agencies, or in-
strumentalities of such governments.’’. 
(c) MANDATORY FILING OF DECLARATIONS.—Sec-
tion 721(b)(1)(C)(v)(IV)(bb) of the Defense Production 
Act of 1950 (50 U.S.C. 4565(b)(1)(C)(v)(IV)(bb)) is 
amended by adding at the end the following: 
VerDate Sep 11 2014 
23:43 Nov 02, 2023
Jkt 049200
PO 00000
Frm 00005
Fmt 6652
Sfmt 6201
E:\BILLS\H5926.IH
H5926
kjohnson on DSK7ZCZBW3PROD with $$_JOB
‘‘(DD) 
GREENFIELD 
INVESTMENTS BY PEOPLE’S 
REPUBLIC
OF
CHINA.—The 
parties to a covered trans-
action 
described 
in 
sub-
section (a)(4)(B)(vi) shall 
submit a declaration de-
scribed in subclause (I) with 
respect to the transaction.’’. 
Æ 
VerDate Sep 11 2014 
23:43 Nov 02, 2023
Jkt 049200
PO 00000
Frm 00006
Fmt 6652
Sfmt 6301
E:\BILLS\H5926.IH
H5926
kjohnson on DSK7ZCZBW3PROD with $$_JOB