S.Amdt. 3443

SA 3443. Mr. LANKFORD submitted an amendment intended to be proposed
by him to the bill S. 2296, to authorize appropriations for fiscal year
2026 for military activities of the Department of Defense, for military
construction, and for defense activities of the Department of Energy,
to prescribe military personnel strengths for such fiscal year, and for
other purposes; which was ordered to lie on the table; as follows:

At the end of subtitle D of title X, add the following:

SEC. 1248. CHINESE DEBT STUDY.

(a) Reports.--Not later than 60 days after the date of the
enactment of this Act, and annually thereafter, the Secretary
of State, working through the Under Secretary of State for
Economic Affairs, shall direct each United States embassy to
prepare a report outlining Chinese equity and assets within
their respective countries of operation.
(b) Contents.--Each report prepared pursuant to subsection
(a) shall include, with respect to the indebted country--
(1) an assessment of the country's overall debt obligations
to the People's Republic of China;
(2) a list of known infrastructure projects that are
financed from capital provided by--
(A) the banking system of the People's Republic of China,
including--
(i) policy banks, including--

(I) the China Development Bank;
(II) the Export-Import Bank of China; and
(III) the Agricultural Development Bank of China;

(ii) commercial banks owned by the Government of the
People's Republic of China, including--

(I) the Bank of China;
(II) the Industrial and Commercial Bank of China;
(III) the Agricultural Bank of China;
(IV) the China Construction Bank; and
(V) the Bank of Communications Limited;

(iii) sovereign wealth funds, including--

(I) China Investment Corporation;
(II) China Life Insurance Company;
(III) China National Social Security Fund; and
(IV) the Silk Road Fund;

(iv) urban commercial banks; and
(v) rural financial institutions;
(B) international financing institutions, including--
(i) the World Bank Group;
(ii) the Asian Development Bank;
(iii) the Asian Infrastructure Investment Bank; and
(iv) the New Development Bank; and
(C) any other financial institution or entity the Secretary
of State considers appropriate;
(3) an assessment of which known infrastructure projects
included in the list described in paragraph (2) are projects
under the Belt and Road Initiative;
(4) any domestic vulnerabilities that the debts referred to
in paragraph (1) could exacerbate in such country;
(5) a list of collateral for debts incurred by Belt and
Road Initiative projects described in paragraph (3); and
(6) a list of known assets in the country that are owned by
entities controlled by the Government of the People's
Republic of China, including telecommunications and critical
infrastructure.
(c) Submission; Compilation.--
(1) Staffing.--Each diplomatic post shall designate at
least 1 employee--
(A) to monitor the investments of the entities referred to
in subsection (b)(2); and
(B) to compile the reports required under subsection (a).
(2) Submission.--Not later than 120 days after receiving
each directive described in subsection (a), the ambassador or
charge d'affaires of each embassy shall submit a report
containing the information described in subsection (b) to the
Under Secretary of State for Economic Growth.
(3) Compilation.--The Under Secretary of State for Economic
Growth shall annually compile the information contained in
the reports submitted pursuant to paragraph (2) to create a
centralized database of information about Chinese capital
investments in the developing world.
(d) Notifications; Annual Report.--
(1) Notifications.--After the submission of the initial
reports pursuant to subsection (c)(2), the Under Secretary of
State for Economic Growth require that the employees
designated under subsection (c)(1), under the supervision of
the ambassador or charge d'affaires of the diplomatic post to
which they are assigned, to notify the Under Secretary not
later than 30 days after the date on which the employee
discovers that an entity referred to in subsection (b)(2) has
made a new investment in an infrastructure project in the
country in which such diplomatic post is located.
(2) Annual report.--The ambassador or charge d'affaires of
each embassy shall submit a holistic annual report to the
Under Secretary of State for Economic Growth that contains
information about all investments in infrastructure projects
made in the country in which such embassy is located by any
entity referred to in subsection (b)(2) during the 1-year
period immediately preceding such submission.
(e) Use of Information.--The Under Secretary of State for
Economic Growth, in consultation with the Under Secretary of
State for Political Affairs, shall utilize the information in
the database compiled pursuant to subsection (c)(3) to
provide guidance to the leadership and staff of relevant
embassies to counter the influence of the People's Republic
of China in the indebted countries.

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