WHAT THE LAW DOINCongress, in plain words

H.R. 692 · 119th Congress

China Exchange Rate Transparency Act of 2025

Passed HouseInternational Affairs
IntroducedJan 23, 2025
Passed HouseFeb 10, 2025
Passed SenateNot yet
To PresidentNot yet
Became lawNot yet

Where it stands

Passed House. Latest step, Feb 11, 2025: Received in the Senate and Read twice and referred to the Committee on Foreign Relations. The House passed it 388–7. In the House, Iowa's representatives split: Randy Feenstra yes, Ashley Hinson yes, Mariannette Miller-Meeks did not vote, Zachary Nunn yes. It would change 0 sections of existing law and would add 3 new provisions of its own.

How this bill changes the law

Sourced

H.R. 692 doesn't change any existing section of law. It would create 3 new provisions of its own. Read from the bill text as sent to the Senate (Feb 11, 2025).

New provisions of the bill's own

  • Sec. 2 Findings
  • Sec. 3 Advocacy for increased exchange rate transparency from China
  • Sec. 4 Sunset
What the words would change: every change, in place (0)

Today's wording of each part of the law, with what would be struck out and added. Each change also gives the bill's own instruction, word for word.

    From the bill's official text on GovInfo and the U.S. Code, latest edition, which may not yet show changes made since.

    What it does

    Sourced

    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.

    Official summary by the Congressional Research Service (Introduced in House, Jan 23, 2025).

    Our plain-language breakdown, with what it means for you and the case for and against, is written once a bill starts to move.

    What has happened

    Sourced
    1. Feb 10, 2025Passed/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) Roll call recordLibrary of Congress
    2. Jan 23, 2025Introduced in HouseLibrary of Congress

    Show all 12 recorded actions

    Recorded votes

    Sourced
    1. Feb 10, 2025 · HousePassed 388–7
      Iowa: Randy Feenstra yes, Ashley Hinson yes, Mariannette Miller-Meeks did not vote, Zachary Nunn yes
      On Motion to Suspend the Rules and Pass, as Amended · needed two-thirds
      R 196 yes, 7 noD 192 yes, 0 noEach member · Record

    Cosponsors

    • Stephanie I. Bice R-OK-5
    • Ben Cline R-VA-6
    • Monica De La Cruz R-TX-15
    • Michael Lawler R-NY-17
    • Susie Lee D-NV-3
    • Barry Loudermilk R-GA-11
    • Mark B. Messmer R-IN-8
    • John R. Moolenaar R-MI-2
    • Thomas R. Suozzi D-NY-3
    • Glenn Thompson R-PA-15