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China Risk Reporting Act
4/8/2024, 3:00 PM
Summary of Bill HR 7757
Bill 118 hr 7757, also known as the China Risk Reporting Act, is a piece of legislation introduced in the US Congress. The main purpose of this bill is to address the risks posed by China to the United States and its interests.
The bill requires certain companies that are listed on US stock exchanges to disclose information about their ties to China. This includes any financial relationships, business operations, or ownership by the Chinese government or Communist Party. The goal is to increase transparency and awareness of potential risks associated with doing business with Chinese entities.
Additionally, the bill mandates that the Securities and Exchange Commission (SEC) create a list of companies that are owned or controlled by the Chinese government. This list would be used by US investors and financial institutions to make informed decisions about their investments. Overall, the China Risk Reporting Act aims to protect US national security and economic interests by increasing transparency and awareness of the risks associated with doing business with China. It is currently being debated in Congress and has garnered bipartisan support.
The bill requires certain companies that are listed on US stock exchanges to disclose information about their ties to China. This includes any financial relationships, business operations, or ownership by the Chinese government or Communist Party. The goal is to increase transparency and awareness of potential risks associated with doing business with Chinese entities.
Additionally, the bill mandates that the Securities and Exchange Commission (SEC) create a list of companies that are owned or controlled by the Chinese government. This list would be used by US investors and financial institutions to make informed decisions about their investments. Overall, the China Risk Reporting Act aims to protect US national security and economic interests by increasing transparency and awareness of the risks associated with doing business with China. It is currently being debated in Congress and has garnered bipartisan support.
Congressional Summary of HR 7757
China Risk Reporting Act
This bill requires publicly traded companies to report on specified connections to and reliance on supply chains in specified foreign markets, including China, Taiwan, and Japan. In particular, companies must describe their risk associated with (1) a significant disruption to the economic relations between China and the United States; (2) disruptions resulting from Chinese military action against Taiwan; and (3) exposure to material financial consequences caused by China, the Chinese Communist Party, or firms or other entities operating in China. Companies must also report any actions taken to minimize this risk.
Read the Full Bill
Current Status of Bill HR 7757
Bill HR 7757 is currently in the status of Bill Introduced since March 20, 2024. Bill HR 7757 was introduced during Congress 118 and was introduced to the House on March 20, 2024. Bill HR 7757's most recent activity was Referred to the House Committee on Financial Services. as of March 20, 2024
Bipartisan Support of Bill HR 7757
Total Number of Sponsors
1Democrat Sponsors
1Republican Sponsors
0Unaffiliated Sponsors
0Total Number of Cosponsors
1Democrat Cosponsors
0Republican Cosponsors
1Unaffiliated Cosponsors
0Policy Area and Potential Impact of Bill HR 7757
Primary Policy Focus
Finance and Financial SectorAlternate Title(s) of Bill HR 7757
China Risk Reporting Act
China Risk Reporting Act
To amend the Securities Exchange Act of 1934 to require disclosures with respect to certain financial risks relating to the People's Republic of China, and for other purposes.
Comments
Sponsors and Cosponsors of HR 7757
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