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Union Calendar No. 52 

118TH CONGRESS 

1ST SESSION H. R. 1156 

[Report No. 118–72] 

To require the Secretary of the Treasury to conduct a study and report 

on the exposure of the United States to the financial sector of the 

People’s Republic of China, and for other purposes. 

IN THE HOUSE OF REPRESENTATIVES 

FEBRUARY 24, 2023 

Ms. SPANBERGER (for herself and Mr. WILLIAMS of Texas) introduced the 

following bill; which was referred to the Committee on Financial Services 

MAY 22, 2023 

Additional sponsors: Mr. LAWLER, Ms. LEE of Nevada, and Mr. RYAN

MAY 22, 2023 

Reported with an amendment, committed to the Committee of the Whole 

House on the State of the Union, and ordered to be printed 

[Strike out all after the enacting clause and insert the part printed in italic] 

[For text of introduced bill, see copy of bill as introduced on February 24, 2023] 


kjohnson on DSK79L0C42PROD with BILLS
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•HR 1156 RH

A BILL 

To require the Secretary of the Treasury to conduct a study 

and report on the exposure of the United States to 

the financial sector of the People’s Republic of China, 

and for other purposes. 


kjohnson on DSK79L0C42PROD with BILLS
3 

•HR 1156 RH

1 Be it enacted by the Senate and House of Representa2 tives of the United States of America in Congress assembled, 

3 SECTION 1. SHORT TITLE. 

4 This Act may be cited as the ‘‘China Financial Threat 

5 Mitigation Act of 2023’’. 

6 SEC. 2. CHINA FINANCIAL THREAT MITIGATION. 

7 (a) REPORT.—Not later than one year after the date 

8 of the enactment of this Act, the Secretary of the Treasury, 

9 in consultation with the Chairman of the Board of Gov10 ernors of the Federal Reserve System, the Chairman of the 

11 Securities and Exchange Commission, the Chairman of the 

12 Commodity Futures Trading Commission, and the Sec13 retary of State, shall conduct a study and issue a report 

14 on the exposure of the United States to the financial sector 

15 of the People’s Republic of China that includes— 

16 (1) an assessment of the effects of reforms to the 

17 financial sector of the People’s Republic of China on 

18 the United States and global financial systems; 

19 (2) a description of the policies the United States 

20 Government is adopting to protect the interests of the 

21 United States while the financial sector of the Peo22 ple’s Republic of China undergoes such reforms; 

23 (3) a description and analysis of any risks to the 

24 financial stability of the United States and the global 


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•HR 1156 RH

1 economy emanating from the People’s Republic of 

2 China; and 

3 (4) recommendations for additional actions the 

4 United States Government, including United States 

5 representatives at relevant international organiza6 tions, should take to strengthen international coopera7 tion to monitor and mitigate such financial stability 

8 risks and protect United States interests. 

9 (b) TRANSMISSION OF REPORT.—The Secretary of the 

10 Treasury shall transmit the report required under sub11 section (a) not later than one year after the date of enact12 ment of this Act to the Committees on Financial Services 

13 and Foreign Affairs of the House of Representatives, the 

14 Committees on Banking, Housing, and Urban Affairs and 

15 Foreign Relations of the Senate, and to the United States 

16 representatives at relevant international organizations, as 

17 appropriate. 

18 (c) CLASSIFICATION OF REPORT.—The report required 

19 under subsection (a) shall be unclassified, but may contain 

20 a classified annex. 

21 (d) PUBLICATION OF REPORT.—The Secretary of the 

22 Treasury shall publish the report required under subsection 

23 (a) (other than any classified annex) on the website of the 

24 Department of the Treasury not later than one year after 

25 the date of enactment of this Act. 


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Union Calendar No. 52 

118TH CONGRESS 

1ST SESSION H. R. 1156 

[Report No. 118–72] 

A BILL 

To require the Secretary of the Treasury to conduct 

public of China, and for other purposes. States to the financial sector of the People’s Rea study and report on the exposure of the United 

MAY 22, 2023 

Reported with an amendment, committed to the Comand ordered to be printed mittee of the Whole House on the State of the Union, 


kjohnson on DSK79L0C42PROD with BILLS