China Financial Threat Mitigation Act of 2023

Subjects: Finance and Financial Sector, Asia, China, Congressional oversight, Financial crises and stabilization, Government information and archives, Government studies and investigations

Summary:  <p><b>China Financial Threat Mitigation Act of 2023 </b></p> <p>This bill requires the Department of the Treasury, in consultation with specified federal financial agencies, to report on the exposure of the United States to the financial sector of China. The report must include </p> <ul> <li>the effects the reforms to China's financial sector have on U.S. and global financial systems, </li> <li>a description of the policies the United States is adopting to protect U.S. interests, </li> <li>a description and analysis of any risks presented by China to the financial stability of the United States and the global economy, and </li> <li>recommendations for additional actions to strengthen international cooperation to mitigate risks and protect U.S. interests. </li> </ul>

<html><body><pre>[Congressional Bills 118th Congress]
[From the U.S. Government Publishing Office]
[H.R. 1156 Introduced in House (IH)]

&lt;DOC&gt;






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.

    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 2023''.

SEC. 2. CHINA FINANCIAL THREAT MITIGATION.

    (a) Report.--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 issue 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 such 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 United States representatives at 
        relevant international organizations, should take to strengthen 
        international cooperation to monitor and mitigate such 
        financial stability risks and protect United States interests.
    (b) Transmission of Report.--The Secretary of the Treasury shall 
transmit the report required under subsection (a) not later than one 
year after the date of enactment of this Act to the Committees on 
Financial Services and Foreign Affairs of the House of Representatives, 
the Committees on Banking, Housing, and Urban Affairs and Foreign 
Relations of the Senate, and to the United States representatives at 
relevant international organizations, as appropriate.
    (c) Classification.--The report required under subsection (a) shall 
be unclassified, but may contain a classified annex.
    (d) Publication of Report.--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 not 
later than one year after the date of enactment of this Act.
                                 &lt;all&gt;
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