China Exchange Rate Transparency Act of 2025

2/15/2025, 5:23 AM

China Exchange Rate Transparency Act of 2023

This bill requires the U.S. Executive Director at the International Monetary Fund (IMF) to use the voice and vote of the United States to advocate for increased exchange rate transparency from China.

Some areas of focus for this advocacy are (1) Chinese exchange rate arrangements, including any indirect foreign exchange market intervention through Chinese financial institutions or state-owned enterprises; (2) enhanced multilateral and bilateral surveillance by the IMF; and (3) stronger consideration of China's performance as a responsible stakeholder in the international monetary system when evaluating quota and voting shares at the IMF.

The requirements of the bill expire seven years and 30 days after the date of the bill's enactment or earlier if China meets certain conditions regarding its exchange rate policies.

Bill 119 hr 692, also known as the "Transparency in Chinese Exchange Rate Policies Act," aims to address the issue of transparency in the exchange rate policies of the People's Republic of China. The bill specifically targets the United States Executive Director at the International Monetary Fund (IMF), requiring them to advocate for increased transparency in China's exchange rate policies.

The main goal of the bill is to ensure that China is held accountable for its exchange rate practices and that the IMF plays a more active role in monitoring and addressing any potential manipulation of currency by the Chinese government. By advocating for increased transparency, the United States hopes to promote fair and balanced trade relations with China and prevent any unfair advantages that may arise from currency manipulation.

In addition to advocating for transparency in China's exchange rate policies, the bill also includes provisions for other purposes related to promoting fair trade practices and protecting the interests of the United States in the global economy. Overall, the Transparency in Chinese Exchange Rate Policies Act seeks to address a pressing issue in international trade and ensure that all countries play by the same rules when it comes to currency exchange rates.
Congress
119
Number
HR - 692
Introduced on
2025-01-23
# Amendments
0
Sponsors
+5
Cosponsors
+5

Variations and Revisions

1/23/2025
Text
PDF
XML

Status of Legislation

Bill Introduced
Introduced to House
Passed in House
Introduced to Senate
Senate to Vote

Purpose and Summary

China Exchange Rate Transparency Act of 2023

This bill requires the U.S. Executive Director at the International Monetary Fund (IMF) to use the voice and vote of the United States to advocate for increased exchange rate transparency from China.

Some areas of focus for this advocacy are (1) Chinese exchange rate arrangements, including any indirect foreign exchange market intervention through Chinese financial institutions or state-owned enterprises; (2) enhanced multilateral and bilateral surveillance by the IMF; and (3) stronger consideration of China's performance as a responsible stakeholder in the international monetary system when evaluating quota and voting shares at the IMF.

The requirements of the bill expire seven years and 30 days after the date of the bill's enactment or earlier if China meets certain conditions regarding its exchange rate policies.

Bill 119 hr 692, also known as the "Transparency in Chinese Exchange Rate Policies Act," aims to address the issue of transparency in the exchange rate policies of the People's Republic of China. The bill specifically targets the United States Executive Director at the International Monetary Fund (IMF), requiring them to advocate for increased transparency in China's exchange rate policies.

The main goal of the bill is to ensure that China is held accountable for its exchange rate practices and that the IMF plays a more active role in monitoring and addressing any potential manipulation of currency by the Chinese government. By advocating for increased transparency, the United States hopes to promote fair and balanced trade relations with China and prevent any unfair advantages that may arise from currency manipulation.

In addition to advocating for transparency in China's exchange rate policies, the bill also includes provisions for other purposes related to promoting fair trade practices and protecting the interests of the United States in the global economy. Overall, the Transparency in Chinese Exchange Rate Policies Act seeks to address a pressing issue in international trade and ensure that all countries play by the same rules when it comes to currency exchange rates.
Alternative Names
Official Title as IntroducedTo require the United States Executive Director at the International Monetary Fund to advocate for increased transparency with respect to exchange rate policies of the People's Republic of China, and for other purposes.
Policy Areas
International Affairs

Comments

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Daniel Meuser
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Barry Loudermilk
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Monica De La Cruz
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Mark Messmer
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Stephanie I. Bice
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Thomas R. Suozzi
Vote Totals:  
119 1st 36 - On Motion to Suspend the Rules and Pass, as Amended
Committee:  
Foreign Relations
Committee:  
Financial Services

Recent Activity

Latest Summary2/10/2025

China Exchange Rate Transparency Act of 2023

This bill requires the U.S. Executive Director at the International Monetary Fund (IMF) to use the voice and vote of the United States to advocate for increased exchange rate tran...

Latest Action2/11/2025
Received in the Senate and Read twice and referred to the Committee on Foreign Relations.