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![handle is hein.congrecreports/crptxafjb0001 and id is 1 raw text is: AUTHENTICATED
U.GOVERNMENT
INFORMATION .
118TH CONGRESS REPORT
1st Session HOUSE OF REPRESENTATIVES 118-72
CHINA FINANCIAL THREAT MITIGATION ACT OF 2023
MAY 22, 2023.-Committed to the Committee of the Whole House on the State of
the Union and ordered to be printed
Mr. MCHENRY, from the Committee on Financial Services,
submitted the following
R E P O R T
[To accompany H.R. 1156]
[Including cost estimate of the Congressional Budget Office]
The Committee on Financial Services, to whom was referred the
bill (H.R. 1156) to require the Secretary of the Treasury to conduct
a study and report on the exposure of the United States to the fi-
nancial sector of the People's Republic of China, and for other pur-
poses, having considered the same, reports favorably thereon with
an amendment and recommends that the bill as amended do pass.
The amendment is as follows:
Strike all after the enacting clause and insert the following:
SECTION 1. SHORT TITLE.
This Act may be cited as the China Financial Threat Mitigation Act of 2023.
SEC. 2. CHINA FINANCIAL THREAT MITIGATION.
(a) REPORT.-Not later than one year after the date of the enactment of this Act,
the Secretary of the Treasury, in consultation with the Chairman of the Board of
Governors of the Federal Reserve System, the Chairman of the Securities and Ex-
change Commission, the Chairman of the Commodity Futures Trading Commission,
and the Secretary of State, shall conduct a study and issue a report on the exposure
of the United States to the financial sector of the People's Republic of China that
includes-
(1) an assessment of the effects of reforms to the financial sector of the Peo-
ple's Republic of China on the United States and global financial systems;
(2) a description of the policies the United States Government is adopting to
protect the interests of the United States while the financial sector of the Peo-
ple's Republic of China undergoes such reforms;
(3) a description and analysis of any risks to the financial stability of the
United States and the global economy emanating from the People's Republic of
China; and
(4) recommendations for additional actions the United States Government, in-
cluding United States representatives at relevant international organizations,
should take to strengthen international cooperation to monitor and mitigate
such financial stability risks and protect United States interests.
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