H.R. 839 — what changed
China Exchange Rate Transparency Act of 2023
From Introduced in House to Reported in House. 2 sections amended between Introduced in House and Reported in House.
Sec. 3 Advocacy for increased exchange rate transparency from China
The Secretary of the Treasury shall instruct the United States Executive Director at the International Monetary Fund (in this Act referred to as the “IMF”) to use the voice and vote of the United States to advocate for—
changed
increased transparency from the People’s Republic of China China, and enhanced multilateral and bilateral surveillance by the IMF, with respect to the exchange rate arrangements of the People’s Republic of China, including any indirect foreign exchange market intervention through Chinese financial institutions or State-owned state-owned enterprises;
changed
compliance by in connection with consultations with the People’s Republic of China with information requests from under Article IV of the IMF regarding Articles of Agreement of the exchange rate policies and holdings IMF, the inclusion of any significant divergences by the People’s Republic of China, consistent with China from the Articles exchange rate policies of Agreement other issuers of currencies used in determining the IMF;value of Special Drawing Rights; and
changed
in connection with consultations with the People’s Republic of China under Article IV of the Articles of Agreement during governance reviews of the IMF, the publication of any significant divergences stronger consideration by the People’s Republic IMF members and management of China from the exchange rate policies of other issuers performance of currencies used China as a responsible stakeholder in determining the value of Special Drawing Rights; andinternational monetary system when evaluating quota and voting shares at the IMF.
removed
during governance reviews of the IMF, stronger consideration by IMF members and management of non-transparent exchange rate policies undertaken by the People’s Republic of China when evaluating quota and voting shares at the IMF.
Sec. 4 Sunset
This Act shall have no force or effect on or after the date that is 30 days after the earlier of—
the date that the United States Governor of the IMF reports to the Congress that the People’s Republic of China—
is in substantial compliance with obligations of the People’s Republic of China under the Articles of Agreement of the IMF regarding orderly exchange rate arrangements; and
changed
has undertaken exchange rate policies and practices consistent with those of other issuers of currencies used in determining the value of Special Drawing Rights; and
the date that is 7 years after the date of the enactment of this Act.