A bill to amend the Export-Import Bank Act of 1945 by eliminating the Presidential determination requirement in connection with trade with the Peoples Republic of China.

Amends the Export-Import Bank Act of 1945 to permit the Bank to extend credit to the Peoples Republic of China.

Eliminates the avoidance of arms races between countries not menaced by Communist China from the factors considered by the President in determining whether the prohibitions against credit extensions by the Export-Import Bank for defense sales to developing countries should be waived in the national interest.