TNAG-2750-FCO40-3965-Most-favoured-nation-status-for-China-Hong-Kong-interests-1993 — Page 62

FCO40 Hong Kong Department Records 聯邦事務部香港部檔案 All

otherwise exported by a state-owned enterprise of the People's Replic of China.

Nondiscriminatory treatment under this section shall be in Efect for the same period of time the waiver referred to in section.

would have been effective had it taken effect.

(b) EVENTS.--An event described in this subsection means--

(1) the President fails to request the waiver referred to in section 3 and reports to the Congress that such failure was a result of the President's inability to report that the People's Republic of China has met the standards described in such section; or

(2) the President requests the waiver referred to in section 3, but a disapproval resolution described in subsection (c) (1) is enacted into law.

(c) DISAPPROVAL RESOLUTION.-

(1) IN GENERAL. --For purposes of this section, the term "resolution" means only a joint resolution of the two Houses of Congress, the matter after the resolving clause of which is as follows: "That the Congress does not approve the extension of the authority contained in section 402 (c) of the Trade Act of 1974 recommended by the President to the Congress onXXXXXXXXwith respect to the People's Republic of China because the Congress does not agree that the People's Republic of China has met the standards described in section 3 of the United States-China Act of 1993", with the blank space being filled with the appropriate date.

(2) APPLICABLE RULES.--The provisions of sections 153 (other than paragraphs (3) and (4) of subsection (b) of such section) and 402 (d) (2) (as modified by this subsection) of the Trade Act of 1974 shall apply to a resolution described in paragraph (1).

(α) DETERMINATION OF DUTY STATUS OF ENTERPRISES.

(1) IN GENERAL.--Subject to paragraph (2), the Secretary of the Treasury shall determine which persons are state-owned enterprises of the People's Republic of China for purposes of this Act and compile and maintain a list of such persons.

(2) DEFINITIONS AND SPECIAL RULES.--For purposes of making the determination required by paragraph (1), the following

definitions apply:

(A) (i) The term "state-owned enterprise of the People's Republic of China" means a person affiliated with or wholly owned, controlled, or subsidized by the Government of the People's Republic of China and whose means of production, products, and revenues are owned or controlled by a central or provincial government authority. A person shall be considered to be state-owned if--

(I) the person's assets are primarily owned by a central or provincial government authority;

(II) a substantial proportion of the person's profits are required to be submitted to a central or provincial government authority;

(III) the person's production, purchases of inputs, and sales of output, in whole or in part, are subject to state, sectoral, or regional plans; or

(IV) a license issued by a government authority

classifies the person as state-owned.

(ii) Any person that-

(I) is a qualified foreign joint venture or is licensed by a governmental authority as a collective, cooperative, or private enterprise; or

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