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 managed funds that invest in Chinese companies that are listed on exchanges outside the United States. Moreover, some foreign-listed Chinese companies — including Hikvision, Dahua Technology, and the weapons-manufacturing subsidiaries of Aviation Industry Corporation of China — have ties to Beijing’s military modernization, espionage, and human rights abuses, and may be subject to U.S. sanctions and export controls.

Seventh, China exploits the freedom and openness of the world’s liberal democracies to undercut their governance, prosperity, and national security. Beijing regularly threatens to cut off access to its vast markets to force foreign businesses in free countries to conform to the CCP’s political demands and speech regulations. Prominent cases include China’s efforts to compel foreign airlines to list Taiwan as part of the PRC, to silence the National Basketball Association after the Houston Rockets’ then-general manager tweeted — from U.S. soil — his support for Hong Kong protesters seeking to preserve their city’s individual freedoms and political autonomy, and to extract an apology from Mercedes-Benz for using an image of the Dalai Lama in online advertising. In addition, the CCP carries out massive propaganda and disinformation efforts. The party uses the Thousand Talents Program (TTP) and other party-run recruitment efforts to target universities and impel students and professors to obtain — lawfully or otherwise — technology, trade secrets, proprietary data, and research and development. It generously funds Confucius Institutes, which specialize in disseminating CCP propaganda, at universities in the United States and in other countries through confidential funding agreements that oblige the institutions to avoid criticism of China and to otherwise comply with CCP objectives. And the CCP tracks foreign government officials at the national and subnational levels, not least in the United States, to find opportunities for influence.

By means of these and other initiatives and programs — and unconstrained by respect for international law and human rights — the PRC wields its vast economic power globally to bring countries under its sway. Increasingly, the CCP links its clout in commerce and investment to shows of advanced military capabilities, with the aim of expanding its global influence. Rh