S.Amdt. 5560

1. Adds Subtitle G--Belt and Road Initiative Oversight SEC. 1281. SHORT TITLE at the end of title XII

   Adds a section

   In S.Amdt. 5499 as proposed

   (2) Form of report.--The report required by paragraph (1) shall be submitted in unclassified form but may contain a classified annex.

   Inserted: Subtitle G--Belt and Road Initiative Oversight SEC. 1281. SHORT TITLE.

   Inserted: This subtitle may be cited as the "Belt and Road Oversight Act".

   Inserted: SEC. 1282. COUNTRY CHINA OFFICER.

   Inserted: (a) Designation.--Not later than 60 days after the date of the enactment of this Act, the Secretary of State shall direct all Chiefs of Mission to designate not fewer than 1 Foreign Service Officer in a United States embassy or other diplomatic post in each country with whom the United States has diplomatic relations as the Country China Officer.

   Inserted: (b) Duties.--Each Country China Officer shall monitor and report on the activity of the People's Republic of China in his or her country of responsibility, including capital investment in critical infrastructure and other projects associated with the Belt and Road Initiative.

   Inserted: SEC. 1283. COMPREHENSIVE REVIEW OF BELT AND ROAD INITIATIVE PROJECTS.

   Inserted: (a) Report.--Not later than 60 days after the date of the enactment of this Act, the Secretary of State shall direct all United States embassies to prepare a report that details equity and assets within their country of operation that are controlled by the Government of the People's Republic of China. Each such report shall be prepared by a Country China Officer designated pursuant to section 1282(a) and shall include the information described in subsection (b).

   Inserted: (b) Contents.--Each report required under subsection (a) shall include--

   Inserted: (1) an assessment of the respective country's overall debt obligations to the People's Republic of China;

   Inserted: (2) a list of known infrastructure projects in the respective country that are financed from capital provided by--

   Inserted: (A) the banking system of the People's Republic of China, including--

   Inserted: (i) policy banks, including--

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   Inserted: (I) the China Development Bank;

   Inserted: (II) the Export-Import Bank of China; and

   Inserted: (III) the Agricultural Development Bank of China;

   Inserted: (ii) state-owned commercial banks, including--

   Inserted: (I) the Industrial and Commercial Bank of China;

   Inserted: (II) the Agricultural Bank of China;

   Inserted: (III) the China Construction Bank;

   Inserted: (IV) the Bank of Communications Limited; and

   Inserted: (V) the Bank of China;

   Inserted: (iii) sovereign wealth funds, including--

   Inserted: (I) the China Investment Corporation;

   Inserted: (II) China Life Insurance Company;

   Inserted: (III) the China National Social Security Fund; and

   Inserted: (IV) the Silk Road Fund;

   Inserted: (iv) urban commercial banks; and

   Inserted: (v) rural financial institutions; and

   Inserted: (B) international financing institutions, including--

   Inserted: (i) the World Bank Group;

   Inserted: (ii) the Asian Development Bank;

   Inserted: (iii) the Asian Infrastructure Investment Bank; and

   Inserted: (iv) the New Development Bank; and

   Inserted: (C) any other financial institution or entity the China Country Officer deems appropriate;

   Inserted: (3) the identification of the infrastructure projects referred to in paragraph (2) that are projects under the Belt and Road Initiative;

   Inserted: (4) any domestic vulnerabilities that the debts referred to in paragraph (1) could exacerbate in the respective country;

   Inserted: (5) a list of the known or speculated collateral listed by the respective country for the debts incurred by Belt and Road Initiative projects referred to in paragraph (2); and

   Inserted: (6) a list of the known or speculated assets owned by People's Republic of China entities, including telecommunications and critical infrastructure.

   Inserted: (c) Submission and Distribution of Report.--

   Inserted: (1) Initial submission.--Not later than 1 year after the date on which the Secretary of State issues the directive described in subsection (a), the Chief of Mission in each country shall submit the report required under subsection (a) to the Under Secretary of State for Political Affairs.

   Inserted: (2) Distribution.--The Under Secretary shall prepare and distribute a report that includes all of the information from the individual country reports received pursuant to paragraph (1) to--

   Inserted: (A) the heads of other Bureaus and agencies of the Department of State, as appropriate;

   Inserted: (B) the United States International Development Finance Corporation;

   Inserted: (C) the Committee on Foreign Relations of the Senate;

   Inserted: (D) the Committee on Armed Services of the Senate;

   Inserted: (E) the Select Committee on Intelligence of the Senate;

   Inserted: (F) the Committee on Finance of the Senate;

   Inserted: (G) the Committee on Foreign Affairs of the House of Representatives;

   Inserted: (H) the Committee on Armed Services of the House of Representatives;

   Inserted: (I) the Permanent Select Committee on Intelligence of the House of Representatives; and

   Inserted: (J) the Committee on Ways and Means of the House of Representatives.

   Inserted: SEC. 1284. NOTIFICATION OF FUTURE BELT AND ROAD INITIATIVE PROJECTS.

   Inserted: After the reports required under section 1283 have been prepared and submitted, the Secretary of State shall require that each Country China Officer notify the Chief of Mission of the respective Embassy and the China Desk at the Department of State of any project described in section 1283(b)(2) not later than 30 days after the date on which the Country China Officer is made aware of such project.

   Inserted: SEC. 1285. ANNUAL COMPREHENSIVE REPORT OF BELT AND ROAD INITIATIVE PROJECTS.

   Inserted: (a) In General.--In addition to the reports required under section 1283 and the notifications required under section 1284, each Country China Officer shall submit an annual report to the Under Secretary of State for Political Affairs, through the Chief of Mission that contains all of findings relating to Belt and Road Initiative projects described in section 1283(b)(2) in the respective country during the 12-month reporting period.

   Inserted: (b) Distribution.--The Under Secretary shall prepare and distribute an annual report containing all of the information from the reports received pursuant to subsection (a) to the recipients described in section 1283(c)(2).

   Inserted: SEC. 1286. ANNUAL STRATEGY TO COUNTER THE INFLUENCE OF THE PEOPLE'S REPUBLIC OF CHINA.

   Inserted: (a) In General.--The Country China Officer at each respective embassy, in consultation with the Chief of Mission for the respective country, shall develop a comprehensive, country-specific strategy to counter the influence of the People's Republic of China within their country of responsibility.

   Inserted: (b) Use of Strategy.--The strategy developed pursuant to subsection (a) shall be used to equip all personnel across all embassies, consulates, and other diplomatic posts in the respective country of responsibility to effectively counter the influence of the People's Republic of China in their respective context and country of responsibility.

   Inserted: (c) Submission.--The Chief of Mission shall submit an annual report to the Under Secretary of State for Political Affairs that--

   Inserted: (1) describes the implementation of the strategy developed pursuant to subsection (a) during the reporting period; and

   Inserted: (2) assesses specific challenges and opportunities relating to the People's Republic of China in the respective country of responsibility.

   Inserted: (d) Distribution.--The Under Secretary shall submit an annual report that summarizes the information contained in the reports received pursuant to subsection (c) to the heads of the Bureaus of the Department of State, as appropriate.

   Inserted: SEC. 1287. PROCUREMENT PROJECTIONS.

   Inserted: (a) Annual Report.--The Country China Officer at each respective embassy, in consultation with other embassy personnel, shall submit an annual report to the Under Secretary of State for Political Affairs that--

   Inserted: (1) describes the procurement and infrastructure needs of their respective country of responsibility; and

   Inserted: (2) assesses specific challenges and opportunities relating to potential financing by the People's Republic of China for procurement and infrastructure projects to meet such needs.

   Inserted: (b) Distribution.--The Under Secretary shall submit an annual report that summarizes the information contained in the reports received pursuant to subsection (a) to--

   Inserted: (1) the heads of the Bureaus of the Department of State, as appropriate; and

   Inserted: (2) the United States International Development Finance Corporation.

   Inserted: SEC. 1288. SENSE OF CONGRESS REGARDING DEVELOPMENT FINANCE.

   Inserted: It is the sense of Congress that, as the People's Republic of China's influence grows through infrastructure (particularly infrastructure that can easily be shifted from economic to military uses), the United States International Development Finance Corporation should prioritize providing alternative financing opportunities that increase port and air field capacity of countries that--

   Inserted: (1) meet the investment criteria set forth in the BUILD Act of 2018 (division F of Public Law 115-254); and

   Inserted: (2) are targets of the predatory infrastructure development scheme of the People's Republic of China commonly known as the Belt and Road Initiative.

   Original wording

   At end of title XII, add the following:

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As printed