I 

117TH CONGRESS 

1ST SESSION H. R. 3498 

To direct the Secretary of Commerce to establish within the Bureau of 

Economic Analysis of the Department of Commerce a China Economic 

Data Coordination Center. 

IN THE HOUSE OF REPRESENTATIVES 

MAY 25, 2021 

Mr. GONZALEZ of Ohio (for himself, Ms. STEVENS, Mr. ALLRED, Mr. PHILLIPS, Mr. HILL, Mr. WALTZ, and Mr. BARR) introduced the following 

bill; which was referred to the Committee on Financial Services, and in 

addition to the Committee on Foreign Affairs, for a period to be subsequently determined by the Speaker, in each case for consideration of such 

provisions as fall within the jurisdiction of the committee concerned 

A BILL 

To direct the Secretary of Commerce to establish within 

the Bureau of Economic Analysis of the Department 

of Commerce a China Economic Data Coordination Center. 

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 ‘‘Documenting Adver5 sarial Trade Aggression Act’’ or ‘‘DATA Act’’. 


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1 SEC. 2. CHINA ECONOMIC DATA COORDINATION CENTER. 

2 (a) IN GENERAL.—The Secretary of Commerce, in 

3 coordination with the Secretary of the Treasury, shall es4 tablish within the Bureau of Economic Analysis of the De5 partment of Commerce a China Economic Data Coordina6 tion Center (in this section referred to as the ‘‘Center’’). 

7 (b) DUTIES.—The Center, in coordination with the 

8 heads of other relevant Federal agencies and the private 

9 sector, shall collect and synthesize official and unofficial 

10 Chinese economic data on developments in China’s finan11 cial markets and United States exposure to risks and 

12 vulnerabilities in China’s financial system, including— 

13 (1) data on baseline economic statistics such as 

14 gross domestic product (GDP) and other indicators 

15 of economic health; 

16 (2) data on national and local government debt; 

17 (3) data on nonperforming loan amounts; 

18 (4) data on the composition of shadow banking 

19 assets; 

20 (5) data on the composition of China’s foreign 

21 exchange reserves; 

22 (6) data on bank loan interest rates; 

23 (7) data on United States retirement accounts 

24 tied to Chinese investments; 

25 (8) data on China’s exposure to foreign bor26 rowers and flows of official financing for China’s 


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1 Belt and Road Initiative and other trade-related ini2 tiatives, including data from the Export-Import 

3 Bank of China, the China Export and Credit Insur4 ance Corporation (Sinosure), and the China Devel5 opment Bank; 

6 (9) data on sovereign or near-sovereign loans 

7 made by China to other countries or guaranteed by 

8 sovereign entities; and 

9 (10) data on Chinese domestic retirement ac10 counts and investments. 

11 (c) BRIEFINGS.—The Center shall provide to the ap12 propriate congressional committees and the private sector 

13 on a biannual basis briefings on implementation of the du14 ties of the Center. 

15 (d) REPORTS AND PUBLIC UPDATES.— 

16 (1) REPORTS.— 

17 (A) IN GENERAL.—The Center shall sub18 mit to the appropriate congressional committees 

19 on a quarterly basis a report in writing on im20 plementation of the duties of the Center. 

21 (B) MATTERS TO BE INCLUDED.—The re22 port required by this subsection shall include— 

23 (i) key findings, data, the research 

24 and development activities of the affiliates 

25 of United States multinational enterprises 


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1 operating in China, and a description of 

2 the implications of such activities for 

3 United States production, employment, 

4 and the economy; and 

5 (ii) a description of United States in6 dustry interactions with Chinese state7 owned enterprises and other state-affiliated 

8 entities and inbound Chinese investments. 

9 (2) PUBLIC UPDATES.—The Center shall pro10 vide to the public on a monthly basis updates on im11 plementation of the duties of the Center. 

12 (e) RECOMMENDATIONS AND STRATEGIES.—The 

13 Secretary of the Treasury, using data collected and syn14 thesized by the Center under subsection (b) and in con15 sultation with the Center, shall— 

16 (1) develop recommendations and strategies for 

17 ways in which the United States can respond to po18 tential risks and exposures within China’s financial 

19 system; and 

20 (2) submit to the appropriate congressional 

21 committees a report that contains such recommenda22 tions and strategies. 

23 (f) APPROPRIATE CONGRESSIONAL COMMITTEES DE24 FINED.—In this section, the term ‘‘appropriate congres25 sional committees’’ means— 


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1 (1) the Committee on Foreign Affairs, the 

2 Committee on Financial Services, and the Com3 mittee on Energy and Commerce of the House of 

4 Representatives; and 

5 (2) Committee on Foreign Relations, the Com6 mittee on Banking, Housing, and Urban Affairs, 

7 and the Committee on Commerce, Science, and 

8 Transportation of the Senate. 

Æ 


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