Communist China Subsidy bill

Communist China Subsidy Reduction Act of 1997 - Amends the International Financial Institutions Act to direct the Secretary of the Treasury to instruct the U.S. Executive Directors at each international financial institution to vote to oppose the provision of concessional loans (with highly subsidized interest rates, grace periods for repayment of five years or more, and maturities of 20 years or more) to China, any Chinese citizen or national, or any Chinese entity.

(Sec. 4) Expresses the sense of the Congress that U.S. nationals conducting industrial cooperation projects in China should adhere to certain principles, including: (1) suspending the use of any merchandise that they have reason to believe was produced by convict or forced labor, and refusing to use forced labor in their projects; (2) seeking to ensure that political or religious views, sex, ethnic or national background, or association with dissidents will not prohibit hiring, lead to harassment, demotion, or dismissal, or otherwise affect the employment status of an individual employed in the industrial cooperation project; (3) ensuring that methods of production used in the projects do not pose unnecessary danger to workers and the surrounding neighborhoods and environment; (4) striving to establish private business enterprises when involved in a project with the Government of China; (5) discouraging any military presence on the premises of the project; (6) promoting freedom of association and assembly among employees; (7) providing the Department of State with information relevant to its efforts to collect information on prisoners for purposes of the Prisoner Information Registry; (8) discouraging or preventing compulsory political indoctrination programs from taking place on project premises; (9) promoting freedom of expression of all kinds; and (10) preventing harassment of workers who decide freely the number and spacing of their children, and prohibiting compulsory population control activities on the premises of the project.

Directs the Secretary of State to forward a copy of these principles to the member nations of the Organization for Economic Cooperation and Development, and encourage them to promote similar principles.

Directs each U.S. national conducting an industrial cooperation project in China to register with the Secretary and indicate whether they agree to implement such principles.

Directs the Secretary of Commerce to give preference to U.S. nationals who have adopted such principles when selecting participants for trade missions to China.

(Sec. 5) Directs U.S. agencies that engage in educational, cultural, scientific, agricultural, military, legal, political, and artistic exchanges to initiate and expand such exchange programs with regard to China.

Expresses the sense of the Congress that a federally chartered not-for-profit organization should be established to fund exchanges between the United States and China through private donations.