H.R. 692 · Passed House · International Affairs

China Exchange Rate Transparency Act of 2025

Sponsor: Daniel Meuser (R-PA)

What it does

• Requires the U.S. Executive Director at the International Monetary Fund to use the U.S. voice and vote to advocate for increased exchange rate transparency from China.
• Focuses on Chinese exchange rate arrangements, including indirect foreign exchange intervention through Chinese financial institutions or state-owned enterprises.
• Presses for enhanced multilateral and bilateral IMF surveillance and stronger consideration of China's conduct as a responsible stakeholder when evaluating IMF quota and voting shares.
• Expires seven years and 30 days after enactment, or earlier if China meets certain conditions on its exchange rate policies.

Official summary

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.

Latest action

Feb 11, 2025: Received in the Senate and Read twice and referred to the Committee on Foreign Relations.

Committee: Senate Foreign Relations