A bill to prohibit and require notifications with respect to certain investments by United States persons in the People's Republic of China, and for other purposes.

S 5598 would prohibit U.S. persons from making investments in China-related entities involving "prohibited technologies" such as advanced semiconductors, quantum computing, and AI systems with potential military or surveillance applications. The bill also requires notification for certain investments in "notifiable technologies" and establishes a self-disclosure process for violations. Violations could result in civil penalties of up to $250,000 or twice the transaction amount. The bill defines "covered foreign persons" as entities incorporated in China, controlled by Chinese entities, or owned 50% or more by China. It mandates annual reports to Congress detailing enforcement actions and trends in these types of investments.