SEC. 8. ITC INVESTIGATION. 
(a) INVESTIGATION.—The United States Inter-
national Trade Commission shall conduct a study, under 
section 332 of the Tariff Act of 1930 (19 U.S.C. 1332), 
regarding how the People’s Republic of China uses govern-
ment intervention to promote investment, employment, 
and exports. The study shall comprehensively catalog, and 
when possible quantify, the practices and policies that cen-
tral, provincial, and local government bodies in the Peo-
ple’s Republic of China use to support and to attempt to 
influence decisionmaking in China’s manufacturing enter-
prises and industries. Chapters of this study shall include, 
but not be limited to, the following: 
(1) Privatization and private ownership. 
(2) Price coordination. 
(3) Targeting of industries. 
(4) Banking and finance. 
(5) Utility rates. 
(6) Infrastructure development. 
(7) Taxation. 
(8) Restraints on imports and exports. 
(9) Research and development. 
(10) Worker training and retraining. 
(11) Rationalization and closure of uneconomic 
enterprises.
(b) TIMING OF REPORTS ON INVESTIGATION.—The 
Congress requests that—
(1) not later than 9 months after the date of 
the enactment of this Act, the International Trade 
Commission complete its investigation under sub-
section (a) and submit a report on the investigation 
to the Committee on Ways and Means of the House 
of Representatives and the Committee on Finance of 
the Senate; and 
(2) not later than 1 year after the report under 
paragraph (1) is submitted, and annually thereafter 
through 2016, the International Trade Commission 
prepare and submit to the committees referred to in 
paragraph (1) an update of the report. 
SEC. 9. AMENDMENTS RELATING TO INTERNATIONAL FI-
NANCIAL POLICY. 
(a) BILATERAL NEGOTIATIONS.—Section 3004(b) of 
the Exchange Rates and International Economic Policy 
Coordination Act of 1988 (22 U.S.C. 5304(b)) is amended 
in the second sentence by striking ‘‘(1) have material glob-
al account surpluses; and (2)’’. 
(b) DEFINITION OF MANIPULATION.—Section 3006 
of the Exchange Rates and International Economic Policy 
Coordination Act of 1988 (22 U.S.C. 5306) is amended 
by adding at the end the following:
‘‘(3) MANIPULATION OF RATE OF EXCHANGE.—
A country shall be considered to be manipulating the 
rate of exchange between its currency and the 
United States dollar if there is a protracted large-
scale intervention by an authority to undervalue its 
currency in the exchange market that prevents effec-
tive balance of payments adjustment or gains an un-
fair competitive advantage over the United States.’’. 
(c) REPORT.—Section 3005(b) of the Exchange 
Rates and International Economic Policy Coordination 
Act of 1988 (22 U.S.C. 5305(b)) is amended—
(1) by striking ‘‘and’’ at the end of paragraph 
(7); 
(2) by striking the period at the end of para-
graph (8) and inserting ‘‘; and’’; and 
(3) by adding at the end the following: 
‘‘(9) a detailed explanation of the test the Sec-
retary uses to determine whether or not a country 
is manipulating the rate of exchange between that 
country’s currency and the dollar for purposes of 
preventing effective balance of payments adjustment 
or gaining an unfair competitive advantage over the 
United States.’’.
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