Title: Ensuring Chinese Debt Transparency Act of 2020
Policy area: International Affairs

Summary:
Ensuring Chinese Debt Transparency Act of 2020
This bill states that it is U.S. policy to push for greater transparency with respect to financing provided by China to another country through international financial institutions such as the International Monetary Fund. The National Advisory Council on International Monetary and Financial Policies within the Department of the Treasury shall report annually on progress made toward advancing this policy.

[Congressional Bills 116th Congress]
[From the U.S. Government Publishing Office]
[H.R. 5932 Introduced in House (IH)]

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116th CONGRESS
  2d Session
                                H. R. 5932

   To ensure greater transparency about the terms and conditions of 
   financing provided by China to member states of the international 
                        financial institutions.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                           February 21, 2020

Mr. Hill of Arkansas introduced the following bill; which was referred 
                 to the Committee on Financial Services

_______________________________________________________________________

                                 A BILL


 
   To ensure greater transparency about the terms and conditions of 
   financing provided by China to member states of the international 
                        financial institutions.

    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 ``Ensuring Chinese Debt Transparency 
Act of 2020''.

SEC. 2. ENSURING CHINA DEBT TRANSPARENCY.

    (a) United States Policy at the International Financial 
Institutions.--The Secretary of the Treasury shall instruct the United 
States Executive Director at each international financial institution 
(as defined in section 1701(c)(2) of the International Financial 
Institutions Act) that it is the policy of the United States to use the 
voice and vote of the United States at the respective institution to 
seek to secure greater transparency with respect to the terms and 
conditions of financing provided by the Government of China to any 
member state of the respective institution that is a recipient of 
financing from the institution, consistent with the rules and 
principles of the Paris Club.
    (b) Report Required.--The Chairman of the National Advisory Council 
on International Monetary and Financial Policies shall include in the 
annual report required by section 1701 of the International Financial 
Institutions Act--
            (1) a description of progress made toward advancing the 
        policy described in subsection (a) of this section; and
            (2) a discussion of financing provided by entities owned or 
        controlled by the Government of China to the member states of 
        international financial institutions that receive financing 
        from the international financial institutions, including any 
        efforts or recommendations by the Chairman to seek greater 
        transparency with respect to the former financing.
    (c) Sunset.--Subsections (a) and (b) of this section shall have no 
force or effect after the earlier of--
            (1) the date that is 7 years after the date of the 
        enactment of this Act; or
            (2) 30 days after the date that the Secretary reports to 
        the Committee on Financial Services of the House of 
        Representatives and the Committee on Foreign Relations of the 
        Senate that China is in substantial compliance with the rules 
        and principles of the Paris Club.
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