China Exchange Rate Transparency Act of 2023

Bill: 118-hr-839
Sponsor: Rep. Meuser, Daniel [R-PA-9]
Introduced: 2023-02-06 in the House
Policy area: International Affairs
Subjects: Asia
China
International monetary system and foreign exchange

Summary:
action_date: 2023-02-06
text: 

China Exchange Rate Transparency Act of 2023

 
This bill requires the U.S. Executive Director at the International Monetary Fund (IMF) to use the voice and vote of the United States to advocate for increased exchange rate transparency from China. Some areas of focus for this advocacy are (1) Chinese exchange rate arrangements, including any indirect foreign exchange market intervention through Chinese financial institutions or state-owned enterprises; and (2) Chinese compliance with information requests from the IMF regarding Chinese exchange rate policies and holdings.
 
The requirements of the bill expire seven years and 30 days after the date of the bill's enactment or earlier if China meets certain conditions regarding its exchange rate policies.

action_date: 2023-12-01
text: 

China Exchange Rate Transparency Act of 2023

 
This bill requires the U.S. Executive Director at the International Monetary Fund (IMF) to use the voice and vote of the United States to advocate for increased exchange rate transparency from China. 
 
Some areas of focus for this advocacy are (1) Chinese exchange rate arrangements, including any indirect foreign exchange market intervention through Chinese financial institutions or state-owned enterprises; (2) enhanced multilateral and bilateral surveillance by the IMF; and (3) stronger consideration of China's performance as a responsible stakeholder in the international monetary system when evaluating quota and voting shares at the IMF.
 
The requirements of the bill expire seven years and 30 days after the date of the bill's enactment or earlier if China meets certain conditions regarding its exchange rate policies.

action_date: 2024-01-12
text: 

China Exchange Rate Transparency Act of 2023

This bill requires the U.S. Executive Director at the International Monetary Fund (IMF) to use the voice and vote of the United States to advocate for increased exchange rate transparency from China.

Some areas of focus for this advocacy are (1) Chinese exchange rate arrangements, including any indirect foreign exchange market intervention through Chinese financial institutions or state-owned enterprises; (2) enhanced multilateral and bilateral surveillance by the IMF; and (3) stronger consideration of China's performance as a responsible stakeholder in the international monetary system when evaluating quota and voting shares at the IMF.

The requirements of the bill expire seven years and 30 days after the date of the bill's enactment or earlier if China meets certain conditions regarding its exchange rate policies.


Legislative actions:
action_date: 2024-01-16
text: Received in the Senate and Read twice and referred to the Committee on Foreign Relations.
action_date: 2024-01-12
text: Motion to reconsider laid on the table Agreed to without objection.
action_date: 2024-01-12
text: On motion to suspend the rules and pass the bill, as amended Agreed to by the Yeas and Nays: (2/3 required): 379 - 1 (Roll no. 9). (text: 1/10/2024 CR H35)
action_date: 2024-01-12
text: Passed/agreed to in House: On motion to suspend the rules and pass the bill, as amended Agreed to by the Yeas and Nays: (2/3 required): 379 - 1 (Roll no. 9). (text: 1/10/2024 CR H35)
action_date: 2024-01-12
text: Considered as unfinished business. (consideration: CR H124)
action_date: 2024-01-10
text: At the conclusion of debate, the Yeas and Nays were demanded and ordered. Pursuant to the provisions of clause 8, rule XX, the Chair announced that further proceedings on the motion would be postponed.
action_date: 2024-01-10
text: DEBATE - The House proceeded with forty minutes of debate on H.R. 839.
action_date: 2024-01-10
text: Considered under suspension of the rules. (consideration: CR H35-37)
action_date: 2024-01-10
text: Mr. McHenry moved to suspend the rules and pass the bill, as amended.
action_date: 2023-12-01
text: Placed on the Union Calendar, Calendar No. 235.
action_date: 2023-12-01
text: Reported (Amended) by the Committee on Financial Services. H. Rept. 118-291.
action_date: 2023-12-01
text: Reported (Amended) by the Committee on Financial Services. H. Rept. 118-291.
action_date: 2023-02-28
text: Ordered to be Reported in the Nature of a Substitute (Amended) by the Yeas and Nays: 36 - 0.
action_date: 2023-02-28
text: Committee Consideration and Mark-up Session Held.
action_date: 2023-02-06
text: Referred to the House Committee on Financial Services.
action_date: 2023-02-06
text: Introduced in House
action_date: 2023-02-06
text: Introduced in House