Sec. 30401. Sense of Congress regarding the People’s Republic of China’s industrial policy
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/bill/117/hr/4521/pcs/section-30401·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
It is the sense of Congress that— the challenges presented by a nonmarket economy like the economy of the People’s Republic of China (PRC), which has captured such a large share of global economic exchange, are in many ways unprecedented and require sufficiently elevated and sustained long-term focus and engagement; in order to truly address the most detrimental aspects of Chinese Communist Party (CCP)-directed mercantilist economic strategy, the United States must adopt policies that— expose the full scope and scale of intellectual property theft and mass subsidization of Chinese firms, and the resulting harm to the United States, foreign markets, and the global economy; ensure that PRC companies face costs and consequences for anticompetitive behavior; provide options for affected United States persons to address and respond to unreasonable and discriminatory CCP-directed industrial policies; and strengthen the protection of critical technology and sensitive data, while still fostering an environment that provides incentives for secure but open investment, innovation, and competition; the United States must work with its allies and partners and multilateral venues and fora— to reinforce long-standing generally accepted principles of fair competition and market behavior and address the PRC’s anticompetitive economic and industrial policies that undermine decades of global growth and innovation; to ensure that the PRC is not granted the same treatment as that of a free-market economy until it ceases the implementation of laws, regulations, policies, and practices that provide unfair advantage to PRC firms in furtherance of national objectives and impose unreasonable, discriminatory, and illegal burdens on market-based international commerce; and to align policies with respect to curbing state-directed subsidization of the private sector, such as advocating for global rules related to transparency and adherence to notification requirements, including through the efforts currently being advanced by the United States, Japan, and the European Union; the United States and its allies and partners must collaborate to provide incentives to their respective companies to cooperate in areas such as— advocating for protection of intellectual property rights in markets around the world; fostering open technical standards; and increasing joint investments in overseas markets; and the United States should develop policies that— insulate United States entities from PRC pressure against complying with United States laws; together with the work of allies and partners and multilateral institutions, counter the potential impact of the blocking regime of the PRC established by the Ministry of Commerce of the PRC on January 9, 2021, when it issued Order No. 1 of 2021, entitled Rules on Counteracting Unjustified Extraterritorial Application of Foreign Legislation and other Measures ; and plan for future actions that the Government of the PRC may take to undermine the lawful application of United States legal authorities, including with respect to the use of sanctions.