Sec. 804. Imposition of sanctions with respect to financial institutions of the People’s Republic of China
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/bill/117/s/4428/rs/section-804·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Not later than 30 days after making an affirmative determination under section 802, the President shall impose the sanctions described in section 808(a) with respect to 3 or more of the following financial institutions: Industrial and Commercial Bank of China (ICBC). China Construction Bank. Bank of China. Agricultural Bank of China. Bank of Communications. China Development Bank. Postal Savings Bank of China (PSBC). Industrial Bank Co., Ltd. China CITIC Bank Corporation. China Merchants Bank.
Export-Import Bank of China. Shanghai Pudong Development Bank Co., Ltd. China Everbright Bank Co., Ltd. Hua Xia Bank. Ping An Bank Co., Ltd. The President may impose the sanctions described in section 808(a) with respect to any subsidiary of, or successor entity to, a financial institution specified in paragraph (1). Not later than 30 days after making an affirmative determination under section 802, and every 90 days thereafter, the President shall submit a list to the appropriate committees of Congress that identifies any foreign persons that the President determines— are significant financial institutions owned or operated by the Government of the People’s Republic of China; and should be sanctioned in the interest of United States national security.
Upon the submission of each list required under paragraph (1), the President shall impose the sanctions described in section 808(a) with respect to each foreign person identified on the list.