Concerning export controls and multilateral sanctions with respect to the People's Republic of China.

Requires the President to negotiate with the governments participating in the group known as the Coordinating Committee to: (1) suspend, on a multilateral basis, any liberalization by such Committee of controls on exports of goods and technology to the People's Republic of China under the Export Administration Act of 1979; and (2) raise the performance levels of goods or technology below which no authority or permission to export to China would be required.

Directs the President to instruct the U.S. executive directors of the World Bank and the Asian Development Bank to oppose any form of economic or technical assistance to China.

Makes the above provisions applicable until the President submits a report to the Congress that the Chinese Government has made progress on a program of political reform throughout the country, including Tibet, and that it is in the U.S. national security interest to terminate such provisions.