I 
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 Representa-
tives 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 Treas-
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ury, in consultation with the Chairman of the Board of 
Governors of the Federal Reserve System, the Chairman 
of the Securities and Exchange Commission, the Chair-
man 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 finan-
cial sector of the People’s Republic of China that in-
cludes— 
(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 sys-
tems; 
(2) a description of the policies the United 
States Government is adopting to protect the inter-
ests of the United States while the financial sector 
of the People’s Republic of China undergoes such re-
forms; 
(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 Repub-
lic of China; and 
(4) recommendations for additional actions the 
United States Government, including United States 
representatives at relevant international organiza-
tions, should take to strengthen international co-
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operation to monitor and mitigate such financial sta-
bility risks and protect United States interests. 
(b) TRANSMISSION OF REPORT.—The Secretary of 
the Treasury shall transmit the report required under sub-
section (a) not later than one year after the date of enact-
ment 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 sub-
section (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. 
Æ 
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