Gonzalez amendments to curb Chinese Communist Party influence included in House-passed NDAA
Washington, July 21, 2020
Tags: National Security
Three amendments introduced by U.S. Congressman Anthony Gonzalez (R-Rocky River) to push back on the growing global influence of the Chinese Communist Party were included in the National Defense Authorization Act of 2020 passed in the U.S. House of Representatives today.
This legislation will curb World Bank funding to China by directing the U.S. Governor for the International Bank for Reconstruction and Development (IBRD) to seek China’s graduation from the program. Despite far exceeding the economic threshold for the program, China has received $7.8 billion from the World Bank IBRD since 2016. The legislation also includes provisions to help protect poor and middle-income countries that China seeks to take advantage of through their Belt and Road Initiative (BRI). Learn more about the Accountability for World Bank Loans to China Act here.
2. Amendment #344 based on H.R. 7601, the CONFUCIUS Act
This legislation seeks to limit the influence of Confucius Institutes – cultural and language exchange programs at American universities funded by the Chinese government – by barring Department of Defense funds from going to any college or university that does not comply with the provisions of the legislation. Learn more about the CONFUCIUS Act here.
3. Amendment #347 based on H.R. 7000, the Holding Foreign Companies Accountable Act
This legislation protects American investors and their retirement savings by delisting any company that is listed on a US stock exchange that is registered in China and Hong Kong and is unable to be audited by the Public Company Accounting Oversight Board. The Chinese Communist Party continues to take advantage of our capital markets all the while refusing to play by the same rules as US companies. The bill would also require public companies to disclose whether they are owned or controlled by a foreign government, including China’s communist government. Learn more about the legislation here.