Briefing and report on China Ocean Shipping Company Shipping Heavy Industry and China State Shipbuilding Corporation

(a) Briefing Not later than 1 year after the date of the enactment of this Act, the Secretary of State, in coordination with the heads of other Federal agencies and departments the Secretary determines relevant, shall brief the appropriate congressional committees on— (1) companies or entities with formal or informal financial relationships with— (A) the China Ocean Shipping Company Shipping Heavy Industry; or (B) the China State Shipbuilding Corporation; and (2) the business practices of such companies and entities. (b) Report Not later than 1 year after the date of the enactment of this Act, and annually thereafter for 2 years, the President shall submit to the appropriate congressional committees a report that includes the following: (1) A description of each current and former subsidiary of the China Ocean Shipping Company Shipping Heavy Industry and the China State Shipbuilding Corporation. (2) Any trading practice of an entity described pursuant to paragraph (1) that is subject to review by the United States Trade Representative for being unreasonable, discriminatory, or violating a trade agreement. (3) The degree and extent of direct involvement by the Government of the People’s Republic of China in the governance, strategic direction, planning, and commercial operations of— (A) the China Ocean Shipping Company Shipping Heavy Industry; (B) the China State Shipbuilding Corporation; and (C) the Chinese shipbuilding industry. (4) A description of each shipyard in China that is producing warships for the People’s Liberation Army Navy or producing dual-use commercial ships, including ferries and barges, that may be used by the People’s Liberation Army Navy. (5) An indication of which such shipyards in the People’s Republic of China are conducting business with foreign entities and potentially thereby facilitating the modernization of the People’s Liberation Army Navy.