IIB 
119TH CONGRESS 
1ST SESSION H. R. 1549 
IN THE SENATE OF THE UNITED STATES 
JULY 24, 2025 
Received; read twice and referred to the Committee on Banking, Housing, and 
Urban Affairs 
AN ACT 
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, 
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SECTION 1. SHORT TITLE. 
This Act may be cited as the ‘‘China Financial 
Threat Mitigation Act of 2025’’. 
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-
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 significant 
risks in 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 finan-
cial stability of the United States and the global 
economy from any risks described under paragraph 
(1); 
(3) a description and evaluation of the trans-
parency, completeness, and reliability of Chinese eco-
nomic data; and 
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(4) recommendations for additional actions the 
United States Government, including United States 
representatives at relevant international organiza-
tions, should take to strengthen international co-
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) to the Committees on Financial Services and 
Foreign Affairs of the House of Representatives, the Com-
mittees on Banking, Housing, and Urban Affairs and For-
eign Relations of the Senate, and to the United States 
representatives at relevant international organizations, as 
appropriate. 
(c) CLASSIFICATION OF REPORT.—The report re-
quired 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 
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website of the Department of the Treasury not later than 
one year after the date of enactment of this Act. 
Passed the House of Representatives July 23, 2025. 
Attest: 
KEVIN F. MCCUMBER, 
Clerk. 
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