What is House Bill H.R. 5103?
Executives, senior officials, and board members from Chinese state-owned enterprises would be barred from entering the U.S. Under this bill, the Secretary of the Treasury would have to verify that American financial institutions have frozen the assets of covered enterprises and individuals.
This bill was introduced in response to the five Chinese citizens who were indicted earlier this year for cyber-spying on private American companies. While it's doubtful that the accused hackers will ever appear in court to face their charges, their case demonstrates an increased emphasis on deterring economic espionage.
Cost of House Bill H.R. 5103
Economic espionage can take many forms. Cyber-spying mainly entails accessing or stealing technology, financial data, proprietary programs, emails, or intellectual property and trade secrets. China conducts most of it's espionage through hackers (sometimes officials in their military or individual contractors). Occasionally, Chinese officials also bribe American employees to give away their company’s secrets and documents.
Google, Boeing, US Steel, Westinghouse, and DuPont are just some of the U.S. companies with valuable business information that has been stolen and passed on to Chinese businesses. The Chinese military’s espionage efforts have also compromised over 40 Pentagon programs and nearly 30 defense-related technologies over the years. The list of compromised programs includes cutting-edge weapons systems like the Aegis anti-ballistic missile destroyers and the F-35 Joint Strike Fighter. Of the seven economic espionage cases tried by the Department of Justice (DoJ) in the 2010 fiscal year, six were linked to China.
Sponsoring Rep. Dana Rohrabacher (R-CA) says that this bill aims to express extreme displeasure with the Chinese Communist Party and the Government of the People's Republic of China for "sponsoring, planning, ordering, conducting, and benefiting" from cyber and economic espionage against the U.S.
Media:Sponsoring Rep. Dana Rohrabacher (R-CA) Press Release
(Photo Credit: The Guardian)
Chinese Communist Economic Espionage Sanctions Act
To impose sanctions on Chinese state-owned enterprises and any person who is a member of the board of directors, an executive officer, or a senior official of a Chinese state-owned enterprise for benefitting from cyber and economic espionage against the United States.
- Not enactedThe President has not signed this bill
- The senate has not voted
- The house has not voted
Committee on Financial ServicesCommittee on Foreign AffairsCommittee on the JudiciaryImmigration and CitizenshipIntroducedJuly 14th, 2014
- house Committees