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Increased Financial Transparency for Chinese Companies Listed on US Exchanges

This Act mandates Chinese companies listed on US exchanges to disclose detailed information about financial support received from the Chinese government and their ties to the Chinese Communist Party. The goal is to enhance transparency and protect American investors from hidden risks. Citizens investing in these companies will gain a fuller understanding of their structure and political dependencies.
Key points
Requirement for companies to disclose whether they received any subsidies, loans, tax concessions, or other financial support from the Government of the People’s Republic of China.
Mandate to report on the existence of Chinese Communist Party committees within the issuer and the roles played by their employee members.
Necessity to disclose if any officers or directors of the company or its subsidiaries currently hold or previously held positions with the Chinese Communist Party or the PRC Government.
The Securities and Exchange Commission (SEC) must implement necessary rule amendments within 180 days to enforce these new disclosure requirements.
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Expired
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Additional Information
Print number: 118_S_854
Sponsor: Sen. Scott, Rick [R-FL]
Process start date: 2023-03-16
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Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

SAFE Act

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 118_S_854.

Which chamber initiated this legislation?

This legislation was initiated in the Senate.

When did the legislative process begin?

The process officially started on 2023-03-16.

What are the main provisions?

Key points include:

  • Requirement for companies to disclose whether they received any subsidies, loans, tax concessions, or other financial support from the Government of the People’s Republic of China.
  • Mandate to report on the existence of Chinese Communist Party committees within the issuer and the roles played by their employee members.
  • Necessity to disclose if any officers or directors of the company or its subsidiaries currently hold or previously held positions with the Chinese Communist Party or the PRC Government.
  • The Securities and Exchange Commission (SEC) must implement necessary rule amendments within 180 days to enforce these new disclosure requirements.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Sen. Scott, Rick [R-FL].

What is the latest detailed status?

The latest detailed status is: Introduced in Senate

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-27.

CATEGORIES

Economy