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[Congressional Bills 118th Congress]
[From the U.S. Government Publishing Office]
[S. 5347 Introduced in Senate (IS)]

<DOC>

118th CONGRESS
  2d Session
                                S. 5347

To require the Secretary of the Treasury to conduct a study and prepare 
 a 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 SENATE OF THE UNITED STATES

                           November 19, 2024

  Mr. Warner (for himself, Mr. Rounds, and Ms. Lummis) introduced the 
 following bill; which was read twice and referred to the Committee on 
                  Banking, Housing, and Urban Affairs

_______________________________________________________________________

                                 A BILL

 
To require the Secretary of the Treasury to conduct a study and prepare 
 a report on the exposure of the United States to the financial sector 
       of the People's Republic of China, and for other purposes.

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

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``China Financial Threat Mitigation 
Act of 2024''.

SEC. 2. STUDY AND REPORT ON FINANCIAL THREAT MITIGATION WITH RESPECT TO 
              PEOPLE'S REPUBLIC OF CHINA.

    (a) In General.--Not later than one year after the date of the 
enactment of this Act, the Secretary of the Treasury, in consultation 
with the Chairman of the Board of Governors of the Federal Reserve 
System, the Chairman of the Securities and Exchange Commission, the 
Chairman of the Commodity Futures Trading Commission, and the Secretary 
of State, shall conduct a study and prepare a report on the exposure of 
the United States to the financial sector of the People's Republic of 
China that includes--
            (1) an assessment of the effects of reforms to the 
        financial sector of the People's Republic of China on the 
        United States and global financial systems;
            (2) a description of the policies the United States 
        Government is adopting to protect the interests of the United 
        States while the financial sector of the People's Republic of 
        China undergoes those reforms;
            (3) a description and analysis of any risks to the 
        financial stability of the United States and the global economy 
        emanating from the People's Republic of China; and
            (4) recommendations for additional actions the United 
        States Government, including representatives of the United 
        States at relevant international organizations, should take to 
        strengthen international cooperation to monitor and mitigate 
        those risks and protect United States interests.
    (b) Transmission of Report.--Not later than one year after the date 
of the enactment of this Act, the Secretary of the Treasury shall 
transmit the report required under subsection (a) to--
            (1) the Committee on Banking, Housing, and Urban Affairs 
        and the Committee on Foreign Relations of the Senate;
            (2) the Committee on Financial Services and the Committee 
        on Foreign Affairs of the House of Representatives; and
            (3) the representatives of the United States at relevant 
        international organizations, as appropriate.
    (c) Classification of Report.--The report required under subsection 
(a) shall be prepared in unclassified form, but may contain a 
classified annex.
    (d) Publication of Report.--Not later than one year after the date 
of the enactment of this Act, the Secretary of the Treasury shall 
publish the report required under subsection (a) (other than any 
classified annex) on the website of the Department of the Treasury.
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