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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.
Introduced
Jan 23, 2025
Last Action
Feb 11, 2025
Session
119th Congress
Sponsors
1 primary · 10 co
Passage Probability
2% — Very Low
Received in the Senate and Read twice and referred to the Committee on Foreign Relations.
Mr. Hill (AR) moved to suspend the rules and pass the bill, as amended.
Considered under suspension of the rules.
DEBATE - The House proceeded with forty minutes of debate on H.R. 692.
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.
On motion to suspend the rules and pass the bill, as amended Agreed to by the Yeas and Nays: (2/3 required): 388 - 7 (Roll no. 36).
Motion to reconsider laid on the table Agreed to without objection.
Considered as unfinished business.
Introduced in House
Referred to the House Committee on Financial Services.
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2%
Estimate based on legislative signals
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Upgrade to ProReceived in the Senate and Read twice and referred to the Committee on Foreign Relations.