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H.R. 692 House International Affairs

China Exchange Rate Transparency Act of 2023

Introduced
Jan 23, 2025
Sponsor
Rep. Meuser, Daniel (R-PA-9)
View on Congress.gov

STAGE 4 OF 8 — HOUSE FLOOR

Currently in the House. Last action: received in the senate and read twice and referred to the committee on foreign relations on Feb 11, 2025.

  1. House Introduced in House Jan 23, 2025
  2. House Referred to the House Committee on Financial Services. Jan 23, 2025
  3. House Mr. Hill (AR) moved to suspend the rules and pass the bill, as amended. Feb 10, 2025
  4. House Considered under suspension of the rules. (consideration: CR H596-599) Feb 10, 2025
  5. House DEBATE - The House proceeded with forty minutes of debate on H.R. 692. Feb 10, 2025
  6. House 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. Feb 10, 2025
  7. House Considered as unfinished business. (consideration: CR H605) Feb 10, 2025
  8. House 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): 388 - 7 (Roll no. 36). (text: CR H597) Feb 10, 2025
  9. House 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). (text: CR H597) Feb 10, 2025
  10. House Motion to reconsider laid on the table Agreed to without objection. Feb 10, 2025
  11. House
    On Motion to Suspend the Rules and Pass, as Amended Feb 10, 2025
    Agreed Yea 388 Nay 7 Roll Call
  12. Senate Received in the Senate and Read twice and referred to the Committee on Foreign Relations. Feb 11, 2025

Cosponsors

10

Subjects

AsiaChinaInternational monetary system and foreign exchange

Committees

  • Foreign Relations Committee
    • [Referred To, Feb 11, 2025]
  • Financial Services Committee
    • [Referred To, Jan 23, 2025]

Summary

China Exchange Rate Transparency Act of 2023This 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.

[Summary as of: Introduced in House]

Bill Text

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