[House Document 118-78]
[From the U.S. Government Publishing Office]




118th Congress, 1st Session - - - - - - - - - - House Document 118-78
 
 SECURITIES INVESTMENTS THAT FINANCE CERTAIN COMPANIES OF THE PEOPLE'S 
                           REPUBLIC OF CHINA

                               __________

                                MESSAGE

                                  from

                     THE PRESIDENT OF THE UNITED STATES

                              transmitting

  NOTIFICATION THAT THE NATIONAL EMERGENCY WITH RESPECT TO THE THREAT 
   FROM SECURITIES INVESTMENTS THAT FINANCE CERTAIN COMPANIES OF THE 
   PEOPLE'S REPUBLIC OF CHINA, DECLARED IN EXECUTIVE ORDER 13959 OF 
 NOVEMBER 12, 2020, AND EXPANDED IN SCOPE BY EXECUTIVE ORDER 14032 OF 
   JUNE 3, 2021, IS TO CONTINUE IN EFFECT BEYOND NOVEMBER 12, 2023, 
                      PURSUANT TO (90 STAT. 1257) 
                      
                      
                      
                      
                      
                      

[GRAPHIC(S) NOT AVAILABLE IN TIFF FORMAT]








  November 7, 2023.--Message and accompanying papers referred to the 
         Committee on Foreign Affairs and ordered to be printed 
         
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                 U.S. GOVERNMENT PUBLISHING OFFICE
                 
49-011                   WASHINGTON : 2023  
         
         
         
         
         
         
         
         
         
         
         
         
         
         
         
         
         
To the Congress of the United States:
    Section 202(d) of the National Emergencies Act (50 U.S.C. 
1622(d)) provides for the automatic termination of a national 
emergency unless, within 90 days prior to the anniversary date 
of its declaration, the President publishes in the Federal 
Register and transmits to the Congress a notice stating that 
the emergency is to continue in effect beyond the anniversary 
date. In accordance with this provision, I have sent to the 
Federal Register for publication the enclosed notice stating 
that the national emergency with respect to the threat from 
securities investments that finance certain companies of the 
People's Republic of China (PRC) that was declared in Executive 
Order 13959 of November 12, 2020, and expanded in scope in 
Executive Order 14032 of June 3, 2021, is to continue in effect 
beyond November 12, 2023.
    The PRC exploits United States capital to resource and to 
enable the development and modernization of its military, 
intelligence, and other security apparatuses, which continues 
to allow the PRC to directly threaten the United States 
homeland and United States forces overseas. Through the 
national strategy of Military-Civil Fusion, the PRC increases 
the size of the country's military-industrial complex by 
compelling civilian Chinese companies to support its military 
and intelligence activities. Those companies, though remaining 
ostensibly private and civilian, directly support the PRC's 
military, intelligence, and security apparatuses. At the same 
time, those companies raise capital by selling securities to 
United States investors that trade on public exchanges both 
here and abroad, lobbying United States index providers and 
funds to include these securities in market offerings, and 
engaging in other acts to ensure access to United States 
capital.
    The PRC military-industrial complex, by directly supporting 
the efforts of the PRC's military, intelligence, and other 
security apparatuses, continues to constitute an unusual and 
extraordinary threat, which has its source in whole or 
substantial part outside the United States, to the national 
security, foreign policy, and economy of the United States. In 
addition, the use of Chinese surveillance technology outside 
the PRC and the development or use of Chinese surveillance 
technology to facilitate repression or serious human rights 
abuse continue to constitute unusual and extraordinary threats, 
which have their source in whole or substantial part outside 
the United States, to the national security, foreign policy, 
and economy of the United States.
    Therefore, I have determined that it is necessary to 
continue the national emergency declared in Executive Order 
13959, expanded in scope by Executive Order 14032, with respect 
to the threat from securities investments that finance certain 
companies of the PRC.

                                               Joseph R. Biden, Jr.
    The White House, November 3, 2023.

















                                 Notice

                              ----------                              


Continuation of the National Emergency With Respect to the Threat From 
 Securities Investments That Finance Certain Companies of the People's 
                           Republic of China

    On November 12, 2020, by Executive Order 13959, the 
President declared a national emergency pursuant to the 
International Emergency Economic Powers Act (50 U.S.C. 1701 et 
seq.) to deal with the unusual and extraordinary threat to the 
national security, foreign policy, and economy of the United 
States constituted by the threat from securities investments 
that finance certain companies of the People's Republic of 
China (PRC).
    The President found that the PRC is exploiting United 
States capital to resource and enable the development and 
modernization of its military, intelligence, and other security 
apparatuses, which continues to allow the PRC to directly 
threaten the United States homeland and United States forces 
overseas. Through the national strategy of Military-Civil 
Fusion, the PRC increases the size of the country's military-
industrial complex by compelling civilian Chinese companies to 
support its military and intelligence activities. Those 
companies, though remaining ostensibly private and civilian, 
directly support the PRC's military, intelligence, and security 
apparatuses and aid in their development and modernization. At 
the same time, those companies raise capital by selling 
securities to United States investors that trade on public 
exchanges both here and abroad, lobbying United States index 
providers and funds to include these securities in market 
offerings, and engaging in other acts to ensure access to 
United States capital.
    The President further found that the PRC's military-
industrial complex, by directly supporting the efforts of the 
PRC's military, intelligence, and other security apparatuses, 
constituted an unusual and extraordinary threat to the national 
security, foreign policy, and economy of the United States.
    On January 13, 2021, the President signed Executive Order 
13974 amending Executive Order 13959.
    On June 3, 2021, I signed Executive Order 14032, which 
expanded the scope of the national emergency declared in 
Executive Order 13959. I found that additional steps are 
necessary to address that national emergency, including the 
threat posed by the military-industrial complex of the PRC and 
its involvement in military, intelligence, and security 
research and development programs, and weapons and related 
equipment production under the PRC's Military-Civil Fusion 
strategy.
    In addition, I found that the use of Chinese surveillance 
technology outside the PRC and the development or use of 
Chinese surveillance technology to facilitate repression or 
serious human rights abuse constituted unusual and 
extraordinary threats to the national security, foreign policy, 
and economy of the United States, and I expanded the national 
emergency to address these threats. Executive Order 14032 
amended Executive Order 13959 and revoked Executive Order 13974 
in its entirety.
    The threat from securities investments that finance certain 
companies of the PRC and certain uses and development of 
Chinese surveillance technology continue to pose an unusual and 
extraordinary threat to the national security, foreign policy, 
and economy of the United States.
    For this reason, the national emergency declared in 
Executive Order 13959 of November 12, 2020, expanded in scope 
by Executive Order 14032 of June 3, 2021, must continue in 
effect beyond November 12, 2023. Therefore, in accordance with 
section 202(d) of the National Emergencies Act (50 U.S.C. 
1622(d)), I am continuing for 1 year the national emergency 
declared in Executive Order 13959 with respect to the threat 
from securities investments that finance certain companies of 
the PRC and expanded in Executive Order 14032.
    This notice shall be published in the Federal Register and 
transmitted to the Congress.

                                               Joseph R. Biden, Jr.
    The White House, November 3, 2023.

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