United States-Hong Kong Policy Act of 1992

United States-Hong Kong Policy Act of 1992 - Title I: Policy - Expresses the sense of the Congress that the following should be U.S. policy with respect to the U.S. relationship with Hong Kong: (1) the United States should play an active role in maintaining Hong Kong's confidence and prosperity, its role as an international financial center, and the mutually beneficial ties between the United States and Hong Kong; (2) the United States should seek to establish and expand direct bilateral ties and agreements with Hong Kong in economic, aviation, shipping, communications, tourism, cultural, sport, and other areas; (3) the United States should seek to maintain after June 30, 1997, the U.S. Consulate-General in Hong Kong and other U.S. official and semi-official organizations; (4) the United States should invite Hong Kong to maintain, after such date, its official and semi-official missions in the United States and to open other missions; (5) the United States should recognize passports and travel documents issued after such date by the Hong Kong Special Administrative Region; and (6) the Chinese Government's exercise of sovereignty over Hong Kong should not affect treatment of Hong Kong residents who apply for visas to visit or reside permanently in the United States, so long as such treatment is consistent with the Immigration and Nationality Act.

Expresses the sense of the Congress that the following should be U.S. policy with respect to Hong Kong after June 30, 1997: (1) the United States should support Hong Kong's participation in multilateral conferences, agreements, and organizations in which it is eligible to participate; (2) the United States should continue to fulfill its obligations to Hong Kong under international agreements, so long as Hong Kong reciprocates; and (3) the United States should respect Hong Kong's status as a separate customs territory and as a contracting party to the General Agreement on Tariffs and Trade.

Expresses the sense of the Congress that the following should continue to be U.S. policy after June 30, 1997, with respect to commerce between the United States and Hong Kong: (1) the United States should seek to maintain and expand economic and trade relations with Hong Kong and should continue to treat Hong Kong as a separate territory in economic and trade matters; (2) the United States should continue to negotiate directly with Hong Kong to conclude bilateral economic agreements; (3) the United States should continue to grant Hong Kong nondiscriminatory trade treatment (most-favored-nation status) and to recognize certificates of origin for manufactured goods issued by the Administrative Region; (4) the United States should continue to allow the U.S. dollar to be freely exchanged with the Hong Kong dollar and U.S. businesses should be encouraged to continue to operate in Hong Kong; (5) the United States should continue to support Hong Kong's access to sensitive technologies controlled under the Coordinating Committee for Multilateral Export Controls so long as such technologies are protected from improper use or export; (6) the United States should encourage Hong Kong to continue to develop a framework which provides protection for intellectual property rights; (7) the United States should negotiate a bilateral investment treaty with Hong Kong; and (8) the change in sovereignty over Hong Kong should not affect ownership in property held by Hong Kong persons in the United States.

Expresses the sense of the Congress that the following should be U.S. policy after June 30, 1997, with respect to transportation from Hong Kong: (1) the United States should continue to recognize ships and airplanes registered in and by Hong Kong and negotiate air service agreements directly with Hong Kong; (2) U.S. commercial ships should remain free to port in Hong Kong; (3) the United States should recognize licenses issued by Hong Kong to Hong Kong airlines; (4) the United States should recognize certificates issued by Hong Kong to U.S. air carriers for specified services; and (5) the United States should negotiate with the Administrative Region to renew or amend all air service agreements existing on June 30, 1997, and to conclude new air service agreements affecting all flights to, from, or through Hong Kong which do not involve travel to, from, or through China.

Expresses the sense of the Congress that the following should continue to be U.S. policy after June 30, 1997, with respect to cultural and educational exchanges with Hong Kong: (1) the United States should seek to maintain and expand U.S.-Hong Kong relations and exchanges in culture, education, science, and academic research; (2) Hong Kong should be accorded separate status as a full partner in the Fulbright Program; and (3) the Librarian of Congress, upon the request of the Legislative Council of Hong Kong and acting through the Congressional Research Service, should seek to expand educational and informational ties with the Council.

Title II: The Status of Hong Kong in United States Law - Continues to apply U.S. laws to Hong Kong after July 1, 1997, as such laws applied prior to such date. Approves the continuation in force of all treaties entered into by the United States and Hong Kong before such date.

Directs the President to report to the Congress whenever he determines that: (1) Hong Kong is not legally competent to carry out its obligations under an international agreement; or (2) the continuation of such obligations is not appropriate under the circumstances.

Authorizes the President, upon determining that Hong Kong is not sufficiently autonomous to justify treatment under a U.S. law different from that accorded China, to suspend such application of the law.

Title III: Reporting Provisions - Directs the Secretary of State to report to the Speaker of the House and the chairman of the Senate Foreign Relations Committee on conditions in Hong Kong of interest to the United States.

Provides that whenever a report is transmitted to the Congress on a country-by-country basis there shall be included a separate subreport on Hong Kong under the heading of the state that exercises sovereignty over Hong Kong.