China Nonproliferation Act

China Nonproliferation Act - Directs the President to report annually to specified congressional committees on every person (with certain exceptions) with respect to whom there is credible information indicating that such person, on or after January 1, 2000, transferred, retransferred, sold, misused, or diverted from, or within, the People's Republic of China to a foreign person or Chinese national involved in the development or acquisition of nuclear, chemical, or biological weapons or ballistic or cruise missiles any goods, services, or technology: (1) listed on the Nuclear Suppliers Group Guidelines for the Export of Nuclear Material, Equipment and Technology and Guidelines for Transfers of Nuclear-Related Dual-Use Equipment, Material, and Related Technology (both published by the International Atomic Energy Agency), the Missile Technology Control Regime Equipment and Technology Annex of June 11, 1996, the lists of items and substances relating to biological and chemical weapons the export of which is controlled by the Australia Group, the Schedules of the Convention on the Prohibition of the Development, Production, Stockpiling and Use of Chemical Weapons and on Their Destruction, or the Wassenaar Arrangement list of Dual Use Goods and Technologies and Munitions list of July 12, 1996; or (2) not identified on any of these lists, but would be if they were U.S. goods, services, or technology prohibited or controlled for export to China (or any tier IV countries as defined by the Bureau of Export Administration of the Department of Commerce), and have the potential to contribute to the development, improvement, or production of nuclear, biological, or chemical weapons, or of ballistic or cruise missile systems, or advanced conventional weapons or munitions.

(Sec. 3) Requires the President to include in the report information: (1) on any action taken by a person identified in a prior annual report that establishes that the person has discontinued, rectified, or mitigated a prior proliferation activity identified under this Act; (2) on measures taken against such persons or against China in response to proliferation activities; and (3) other specified information.

Requires submission of such reports in unclassified form, with classified annexes as necessary.

(Sec. 4) Directs the President to apply certain measures for at least 12 months to each person identified in the annual report.

Includes among such measures: (1) those set forth Executive Order No. 12938; (2) prohibition of U.S. Government transfers or sales to such person of any item on the U.S. Munitions List, and termination of all sales and after-sale servicing to such person of any defense articles, defense services, or design and construction services under the Arms Export Control Act; (3) denial of licenses, suspension of existing licenses, and termination of all transfers or sales and after-sale servicing for the transfer to such person of any item the export of which is controlled under the Export Administration Act of 1979 or the Export Administration regulations; (4) prohibition of U.S. Government procurement of any goods or services from such person; (5) prohibition of U.S. assistance to such person in the form of grants, loans, credits, guarantees, or otherwise; (6) immediate suspension of any agreements or efforts for the co-development or co-production with such person of any item on the U.S. Munitions List.

Sets conditions for the lifting of such measures.

(Sec. 5) Requires the President to apply additional specified tier 1, tier 2, and tier 3 measures against China if certain circumstances exist. Requires one or more tier 2 measures if a person's proliferation activities are not rectified, or a person has engaged in additional proliferation activities, one year after imposition of section (4) measures, and one or more tier 3 measures if similar circumstances exist two years after imposition of section (4) measures.

(Sec. 6) Sets forth procedures for congressional review of any presidential decision not to impose sanctions under this Act, or to exempt a person or China from such sanctions. Mandates imposition of such sanctions if Congress disapproves by joint resolution the President's decision.

(Sec. 7) Requires transmittal to the Securities and Exchange Commission (SEC) of the President's annual report under this Act.

Requires the SEC to promulgate regulations to: (1) ensure that securities investors are notified of the identity of any person in the report the securities of which are listed, or authorized for listing, on a registered national securities exchange (or tier or segment) or by a registered national securities association; and (2) require each person included in such a report to provide notice of such inclusion in each written report, registration statement, or other filing or notice required from that person under the securities laws.