# Summary
This bill aims to restrict Chinese investment in sensitive U.S. technologies and enhance financial transparency regarding foreign investment in American companies. The legislation expands the Committee on Foreign Investment in the United States (CFIUS) review authority to scrutinize more broadly any foreign investment that could undermine U.S. economic and technological competitiveness, with particular focus on Chinese entities. It requires investment advisers managing private funds to annually disclose their holdings in countries of concern like China, with the SEC publishing aggregated reports on these investments. The bill also creates a new regulatory framework prohibiting or requiring notification of U.S. persons engaging in covered activities (such as equity investments, joint ventures, or operational partnerships) involving critical technologies like semiconductors, artificial intelligence, quantum computing, and hypersonics in countries of concern. Violations carry civil penalties up to $5 million or twice the transaction value, and criminal penalties up to 20 years imprisonment. The President must establish the regulatory framework within 180 days and identify sensitive technology categories within one year, with ongoing annual updates required. The bill also limits foreign content from nonmarket economies in future trade agreements and directs the intelligence community to warn American industry about security risks from Chinese smart port technology. No specific funding amounts are mandated beyond general appropriations authorizations.
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