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China Exchange Rate Transparency Act of 2025

2/15/2025, 5:23 AM

Summary of Bill HR 692

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.

Congressional Summary of HR 692

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.

Read the Full Bill

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Current Status of Bill HR 692

Bill HR 692 is currently in the status of Passed in House since February 10, 2025. Bill HR 692 was introduced during Congress 119 and was introduced to the House on January 23, 2025.  Bill HR 692's most recent activity was Received in the Senate and Read twice and referred to the Committee on Foreign Relations. as of February 11, 2025

Bipartisan Support of Bill HR 692

Total Number of Sponsors
11
Democrat Sponsors
0
Republican Sponsors
11
Unaffiliated Sponsors
0
Total Number of Cosponsors
39
Democrat Cosponsors
8
Republican Cosponsors
31
Unaffiliated Cosponsors
0

Policy Area and Potential Impact of Bill HR 692

Primary Policy Focus

International Affairs

Alternate Title(s) of Bill HR 692

To 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.
To 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.

Comments

Axl Connolly profile image

Axl Connolly

861

1 year ago

I don't see why this is necessary. Who does this even help?

Madelyn Hopkins profile image

Madelyn Hopkins

734

1 year ago

I don't really get why this bill is necessary. Seems like a waste of time and resources. Who even benefits from this? #confused #notforme

Sponsors and Cosponsors of HR 692

Daniel Meuser
Daniel Meuser
PennsylvaniaRepublican
Mark B. Messmer
Mark B. Messmer
IndianaIndependent
John R. Moolenaar
John R. Moolenaar
MichiganRepublican
Susie Lee
Susie Lee
NevadaDemocrat
Barry Loudermilk
Barry Loudermilk
GeorgiaRepublican
Monica De La Cruz
Monica De La Cruz
TexasRepublican

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