China Task Force releases report on countering threat posed by Chinese Communist Party

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The congressional China Task Force, a task force comprised of Republican lawmakers in the U.S. House of Representatives charged with assessing the growing threat posed by the Chinese Communist Party, released its final report that will serve as a national policy framework.

“Today, the China Task Force put forth real-world solutions that will build upon the Trump Administration’s efforts to counter China’s global aggression and protect our national and economic security,” said U.S. Rep. Guy Reschenthaler (R-PA), who was selected by House Republican Leader Kevin McCarthy (R-CA) to serve on the task force. “From Pennsylvania’s steel mills to our farmlands, China has attempted to disrupt or destroy our American way of life.”

Since its launch in May, the 15-member task force has met with 125 people, including policy experts, business leaders, members of Congress, and current and former administration officials from both parties. Of the 400 recommendations included in the final report, 180 are legislative recommendations; two-thirds of which are bipartisan and one-third have already passed either the House or the Senate.

Four Reschenthaler bills were included in the report, including the Protecting National Security in Financial Investments Act, H.R. 8407, with lead original cosponsor Rep. Michael McCaul (R-TX), ranking member of the U.S. House Foreign Affairs Committee. That bill would require the Securities and Exchange Commission (SEC) to assess whether the disclosure of information related to investments in certain entities is necessary or appropriate for the purposes of certain reports under the securities laws.

“Through legislative and continued administrative actions, we can fight back against the CCP’s malfeasance and strengthen our nation’s position on the world stage,” Reschenthaler said. “Those supporting democracy and freedom around the world must join together, act decisively, and address the growing threat of the CCP.”

Report recommendations include bringing fairness back to the U.S.-China relationship by holding Chinese companies to the same financial disclosure standards as American ones when listing on the U.S. stock exchanges; assessing the security risks posed by China in 5G networks and increasing cooperation between the United States and its allies in identifying as well as countering them; and securing critical supply chains, prioritizing national security and medical supplies, among others.