By TERENCE HUNT - AP White House Correspondent

WASHINGTON 04/13(AP)--Congress appears unlikely to override President Clinton's veto of a sweeping foreign-policy bill that would have dismantled U.S. diplomatic agencies and intensified pressure on China.

Casting his 14th veto, the president said Friday, "This legislation contains many unacceptable provisions that would undercut U.S. leadership abroad and damage our ability to assure the future security and prosperity of the American people."

The bill passed the Senate 52-44 and the House 226-172, well short of the two-thirds margins needed to override the veto.

Clinton said the measure would "unacceptably restrict" his ability to conduct foreign affairs and control state secrets, "thereby raising serious constitutional concerns."

Approved in party-line votes, the bill issued a de facto invitation to Taiwan's president, Lee Teng-hui, to visit the United States in defiance of Chinese objections. It also would increase ties to Taiwan, toughen human rights pressure on China, allow for a special envoy to Tibet and set up Radio Free Asia to broadcast into China.

"The ongoing management of our relations with China is one of the central challenges of the United States' foreign policy, but this bill would complicate, not facilitate, that task," Clinton said.

Clinton and fellow Democrats also objected to the bill's dismantling of the Agency for International Development, the Arms Control and Disarmament Agency, and the U.S. Information Agency. The Democrats objected despite a compromise that would allow Clinton to pick just one of the three to abolish.

Sen. Jesse Helms, R-N.C., chairman of the Senate Foreign Relations Committee, said the changes would save $1.8 billion.

Clinton said he supported cost-saving reforms, but the GOP plan "proceeds in an improvident fashion, mandating the abolition of at least one of three important foreign affairs agencies."

Underscoring the partisan nature of the vote, Helms has warned that Americans would "have a revolution of their own this November" if Clinton vetoes spending cuts.

Overall, the bill directs the State Department to spend fewer taxpayer dollars overseas, falling "unacceptably below" what Clinton wanted. But it preserves $3 billion in annual aid to Israel and $2.1 billion to Egypt, as well as $426 million for anti-narcotics efforts and $435 million for the Peace Corps over the next two years.

The bill authorizes $13 billion over fiscal years 1996 and 1997 for the State Department and related agencies, a cut of $500 million from present levels. It also would reduce U.S. payments for international organizations and peacekeeping abroad.