I 

118TH CONGRESS 

1ST SESSION H. R. 1156 

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 

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. 

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 

5 Threat 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 TreasVerDate Sep 11 2014 22:47 Feb 24, 2023 Jkt 039200 PO 00000 Frm 00001 Fmt 6652 Sfmt 6201 E:\BILLS\H1156.IH H1156

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•HR 1156 IH

1 ury, in consultation with the Chairman of the Board of 

2 Governors of the Federal Reserve System, the Chairman 

3 of the Securities and Exchange Commission, the Chair4 man of the Commodity Futures Trading Commission, and 

5 the Secretary of State, shall conduct a study and issue 

6 a report on the exposure of the United States to the finan7 cial sector of the People’s Republic of China that in8 cludes— 

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

10 the financial sector of the People’s Republic of 

11 China on the United States and global financial sys12 tems; 

13 (2) a description of the policies the United 

14 States Government is adopting to protect the inter15 ests of the United States while the financial sector 

16 of the People’s Republic of China undergoes such re17 forms; 

18 (3) a description and analysis of any risks to 

19 the financial stability of the United States and the 

20 global economy emanating from the People’s Repub21 lic of China; and 

22 (4) recommendations for additional actions the 

23 United States Government, including United States 

24 representatives at relevant international organiza25 tions, should take to strengthen international coVerDate Sep 11 2014 22:47 Feb 24, 2023 Jkt 039200 PO 00000 Frm 00002 Fmt 6652 Sfmt 6201 E:\BILLS\H1156.IH H1156

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•HR 1156 IH

1 operation to monitor and mitigate such financial sta2 bility risks and protect United States interests. 

3 (b) TRANSMISSION OF REPORT.—The Secretary of 

4 the Treasury shall transmit the report required under sub5 section (a) not later than one year after the date of enact6 ment of this Act to the Committees on Financial Services 

7 and Foreign Affairs of the House of Representatives, the 

8 Committees on Banking, Housing, and Urban Affairs and 

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

10 representatives at relevant international organizations, as 

11 appropriate. 

12 (c) CLASSIFICATION.—The report required under 

13 subsection (a) shall be unclassified, but may contain a 

14 classified annex. 

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

16 Treasury shall publish the report required under sub17 section (a) (other than any classified annex) on the 

18 website of the Department of the Treasury not later than 

19 one year after the date of enactment of this Act. 

Æ 


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