118TH CONGRESS 

1ST SESSION H. R. 1156 

AN ACT 

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, 
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1 SECTION 1. SHORT TITLE. 

2 This Act may be cited as the ‘‘China Financial 

3 Threat Mitigation Act of 2023’’. 

4 SEC. 2. CHINA FINANCIAL THREAT MITIGATION. 

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

6 of the enactment of this Act, the Secretary of the Treas7 ury, in consultation with the Chairman of the Board of 

8 Governors of the Federal Reserve System, the Chairman 

9 of the Securities and Exchange Commission, the Chair10 man of the Commodity Futures Trading Commission, and 

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

12 a report on the exposure of the United States to the finan13 cial sector of the People’s Republic of China that in14 cludes— 

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

16 the financial sector of the People’s Republic of 

17 China on the United States and global financial sys18 tems; 

19 (2) a description of the policies the United 

20 States Government is adopting to protect the inter21 ests of the United States while the financial sector 

22 of the People’s Republic of China undergoes such re23 forms; 

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

25 the financial stability of the United States and the 
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1 global economy emanating from the People’s Repub2 lic of 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 co7 operation to monitor and mitigate such financial sta8 bility risks and protect United States interests. 

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

10 the 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 re19 quired under subsection (a) shall be unclassified, but may 

20 contain a classified annex. 

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

22 Treasury shall publish the report required under sub23 section (a) (other than any classified annex) on the 
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1 website of the Department of the Treasury not later than 

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

Passed the House of Representatives May 22, 2023. 

Attest: 

Clerk. 

118TH CONGRESS 

1ST SESSION H. R. 1156 

AN ACT 

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