Comprehensive review of Belt and Road Initiative projects

(a) Report Not later than 60 days after the date of the enactment of this Act, the Secretary of State shall direct all United States embassies, working through the designated Country China Officer, to prepare a report that details assets within their respective country of operation that are controlled or financed by the Government of the People's Republic of China or a state-owned enterprise in the People's Republic of China. (b) Contents Each report required under subsection (a) shall include— (1) an assessment of the respective country’s debt obligations to the People’s Republic of China; (2) a list of known infrastructure projects in the respective country that are financed from capital provided by— (A) the banking system of the People’s Republic of China, including— (i) policy banks, including— (I) the China Development Bank; (II) the Export-Import Bank of China; and (III) the Agricultural Development Bank of China; (ii) state-owned commercial banks, including— (I) the Industrial and Commercial Bank of China; (II) the Agricultural Bank of China; (III) the China Construction Bank; (IV) the Bank of Communications Limited; and (V) the Bank of China; (iii) sovereign wealth funds, including— (I) the China Investment Corporation; (II) China Life Insurance Company; (III) the China National Social Security Fund; and (IV) the Silk Road Fund; (iv) urban commercial banks; and (v) rural financial institutions; (B) international financing institutions, including— (i) the Asian Infrastructure Investment Bank; and (ii) the New Development Bank; and (C) any other financial institution or entity otherwise controlled, overseen, or managed by the Government of the People's Republic of China; (3) the identification of the infrastructure projects referred to in paragraph (2) that are projects under the Belt and Road Initiative; (4) an assessment of projects that have caused the country to incur significant debt that has the potential to harm its economic prosperity and national sovereignty; (5) a list of the known or speculated collateral listed by the respective country for the debts incurred by Belt and Road Initiative projects referred to in paragraph (1); (6) a list of the known assets owned by the Government of the People's Republic of China or state-owned enterprises in the People's Republic of China, including telecommunications and critical infrastructure; and (7) a list of known activities at research institutions or institutions of higher education controlled or financed by the Government of the People’s Republic of China or state-owned enterprises in the People’s Republic of China. (c) Submission and distribution of report (1) Initial submission Not later than 1 year after the date on which the Secretary of State issues the directive described in subsection (a), the Chief of Mission in each country shall submit the report required under subsection (a) to the Under Secretary of State for Political Affairs. (2) Distribution The Under Secretary of State for Political Affairs shall prepare and distribute a report that includes all of the information from the individual country reports received pursuant to paragraph (1) to— (A) the heads of other bureaus and agencies of the Department of State, as appropriate; (B) the United States International Development Finance Corporation; (C) the Committee on Foreign Relations of the Senate; (D) the Committee on Armed Services of the Senate; (E) the Select Committee on Intelligence of the Senate; (F) the Committee on Finance of the Senate; (G) the Committee on Foreign Affairs of the House of Representatives; (H) the Committee on Armed Services of the House of Representatives; (I) the Permanent Select Committee on Intelligence of the House of Representatives; and (J) the Committee on Ways and Means of the House of Representatives.