{"format":1,"id":"119-hr-692","congress":119,"number":"H.R. 692","kind":"bill","group":"bills","title":"China Exchange Rate Transparency Act of 2025","title_source":"Short Title(s) as Passed House","official_title":"To require the United States Executive Director at the International Monetary Fund to advocate for increased transparency with respect to exchange rate policies of the People's Republic of China, and for other purposes.","titles":[{"type":"Official Title as Introduced","title":"To require the United States Executive Director at the International Monetary Fund to advocate for increased transparency with respect to exchange rate policies of the People's Republic of China, and for other purposes."},{"type":"Official Title from EH (Engrossed in House) bill text","title":"To require the United States Executive Director at the International Monetary Fund to advocate for increased transparency with respect to exchange rate policies of the People’s Republic of China, and for other purposes."},{"type":"Short Titles from RFS (Referred to Senate) bill text","title":"China Exchange Rate Transparency Act of 2025"},{"type":"Display Title","title":"China Exchange Rate Transparency Act of 2025"},{"type":"Short Title(s) as Passed House","title":"China Exchange Rate Transparency Act of 2025"},{"type":"Short Title(s) as Introduced","title":"China Exchange Rate Transparency Act of 2023"}],"outcome":"passed_house","law_number":null,"introduced":"2025-01-23","chambers":{"house":{"status":"roll_call","date":"2025-02-10","vote":{"id":"119-2025-h36","question":"On Motion to Suspend the Rules and Pass, as Amended","title":"China Exchange Rate Transparency Act","result":"Passed","yea":388,"nay":7,"present":0,"not_voting":38,"source":"https://clerk.house.gov/evs/2025/roll036.xml"}},"senate":{"status":"pending","date":null,"vote":null}},"president":{"status":"not_yet","date":null},"vice_president_tie_breaker":null,"latest_action":{"text":"Received in the Senate and Read twice and referred to the Committee on Foreign Relations.","date":"2025-02-11"},"nominees":null,"amendments":[],"other_votes":[],"crs_summary":{"date":"2025-01-23","stage":"Introduced in House","blocks":[{"k":"h","t":"China Exchange Rate Transparency Act of 2023"},{"k":"p","t":"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."},{"k":"p","t":"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."},{"k":"p","t":"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."}],"words":130},"summary":{"main_subject":{"text":"Directs the Secretary of the Treasury to instruct the U.S. Executive Director at the International Monetary Fund to advocate for increased transparency about the exchange rate arrangements of the People's Republic of China, and sets an end date for that direction.","cites":[{"label":"Sec. 3","href":"https://www.congress.gov/bill/119th-congress/house-bill/692/text/eh#H5F5B8C218E6D4ED3B8ABBAD940D3E6A4"},{"label":"Sec. 4","href":"https://www.congress.gov/bill/119th-congress/house-bill/692/text/eh#H7644B61F9F0844EA9C4971E9C7446C7A"}]},"core_areas":["U.S. advocacy at the International Monetary Fund on China's exchange rate transparency","Time limit on the advocacy requirement"],"what_it_does":[{"text":"Requires the Secretary of the Treasury to instruct the U.S. Executive Director at the International Monetary Fund to use the voice and vote of the United States to advocate for the actions listed in the section.","cite":{"label":"Sec. 3","href":"https://www.congress.gov/bill/119th-congress/house-bill/692/text/eh#H5F5B8C218E6D4ED3B8ABBAD940D3E6A4"}},{"text":"Directs advocacy for increased transparency from the People's Republic of China, and enhanced IMF multilateral and bilateral surveillance, on China's exchange rate arrangements, including indirect foreign exchange market intervention through Chinese financial institutions or state-owned enterprises.","cite":{"label":"Sec. 3","href":"https://www.congress.gov/bill/119th-congress/house-bill/692/text/eh#H5F5B8C218E6D4ED3B8ABBAD940D3E6A4"}},{"text":"Directs advocacy that, in IMF Article IV consultations with China, the IMF include any significant divergences by China from the exchange rate policies of other issuers of currencies used in determining the value of Special Drawing Rights.","cite":{"label":"Sec. 3","href":"https://www.congress.gov/bill/119th-congress/house-bill/692/text/eh#H5F5B8C218E6D4ED3B8ABBAD940D3E6A4"}},{"text":"Directs advocacy that, during IMF governance reviews, IMF members and management give stronger consideration to China's performance as a responsible stakeholder in the international monetary system when evaluating quota and voting shares.","cite":{"label":"Sec. 3","href":"https://www.congress.gov/bill/119th-congress/house-bill/692/text/eh#H5F5B8C218E6D4ED3B8ABBAD940D3E6A4"}},{"text":"Ends the Act's force or effect 30 days after the earlier of two dates: a report to Congress by the U.S. Governor of the IMF on China's compliance and exchange rate practices, or 7 years after enactment.","cite":{"label":"Sec. 4","href":"https://www.congress.gov/bill/119th-congress/house-bill/692/text/eh#H7644B61F9F0844EA9C4971E9C7446C7A"}}],"unexpected":[],"version":{"type":"Engrossed in House","date":"2025-02-10","rule":"passed","href":"https://www.congress.gov/bill/119th-congress/house-bill/692/text/eh"},"current":true,"model":"claude-sonnet-5-5","approved":"2026-09-29","approved_by":"checks"},"sources":{"congress_gov":"https://www.congress.gov/bill/119th-congress/house-bill/692","text":"https://www.congress.gov/bill/119th-congress/house-bill/692/text"},"card":{"image":"card/item/119-hr-692.png","v":"829002d00682","alt":"Votes on Record. H.R. 692, 119th Congress: China Exchange Rate Transparency Act of 2025. House: 388 Yea, 7 Nay. Senate: not yet considered. Outcome: Passed House, 10 Feb 2025."}}