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Union Calendar No. 238 

118TH CONGRESS 

1ST SESSION H. R. 510 

[Report No. 118–294] 

To require the United States Governor of, and the United States Executive 

Director at, the International Monetary Fund to oppose an increase 

in the weight of the Chinese renminbi in the Special Drawing Rights 

basket of the Fund, and for other purposes. 

IN THE HOUSE OF REPRESENTATIVES 

JANUARY 25, 2023 

Mr. DAVIDSON introduced the following bill; which was referred to the 

Committee on Financial Services 

DECEMBER 1, 2023 

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

DECEMBER 1, 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 January 25, 2023] 


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•HR 510 RH

A BILL 

To require the United States Governor of, and the United 

States Executive Director at, the International Monetary 

Fund to oppose an increase in the weight of the Chinese 

renminbi in the Special Drawing Rights basket of the 

Fund, and for other purposes. 


kjohnson on DSK7ZCZBW3PROD with $$_JOB
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•HR 510 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 ‘‘Chinese Currency Ac5 countability Act of 2023’’. 

6 SEC. 2. OPPOSITION OF THE UNITED STATES TO AN IN7 CREASE IN THE WEIGHT OF THE CHINESE 

8 RENMINBI IN THE SPECIAL DRAWING RIGHTS 

9 BASKET OF THE INTERNATIONAL MONETARY 

10 FUND. 

11 The Secretary of the Treasury shall instruct the United 

12 States Governor of, and the United States Executive Direc13 tor at, the International Monetary Fund to use the voice 

14 and vote of the United States to oppose any increase in 

15 the weight of the Chinese renminbi in the basket of cur16 rencies used to determine the value of Special Drawing 

17 Rights, unless the Secretary of the Treasury has submitted 

18 to the Committee on Financial Services of the House of Rep19 resentatives and the Committee on Banking, Housing, and 

20 Urban Affairs of the Senate a written report which includes 

21 a certification that— 

22 (1) the People’s Republic of China is in compli23 ance with all its obligations under Article VIII of the 

24 Articles of Agreement of the Fund; 


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•HR 510 RH

1 (2) in the preceding 12 months, there has not 

2 been a report submitted under section 3005 of the 

3 Omnibus Trade and Competitiveness Act of 1988 or 

4 section 701 of the Trade Facilitation and Trade En5 forcement Act of 2015 in which the People’s Republic 

6 of China has been found to have manipulated its cur7 rency; and 

8 (3) the People’s Republic of China adheres to the 

9 rules and principles of the Paris Club and the OECD 

10 Arrangement on Officially Supported Export Credits. 

11 SEC. 3. SUNSET. 

12 Section 2 shall have no force or effect beginning 10 

13 years after the date of the enactment of this Act. 


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kjohnson on DSK7ZCZBW3PROD with $$_JOB
Union Calendar No. 238 

118TH CONGRESS 

1ST SESSION H. R. 510 

[Report No. 118–294] 

A BILL 

To require the United States Governor of, and the 

other purposes. Drawing Rights basket of the Fund, and for the weight of the Chinese renminbi in the Special national Monetary Fund to oppose an increase in United States Executive Director at, the InterDECEMBER 1, 2023 

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


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