I
119THCONGRESS
1
STSESSION H. R. 1549
To require the Secretary of the Treasury to conduct a study and report
on the exposure of the United States to the financial sector of the
People’s Republic of China, and for other purposes.
IN THE HOUSE OF REPRESENTATIVES
FEBRUARY24, 2025
Mr. W
ILLIAMSof Texas (for himself and Mr. GOTTHEIMER) introduced the
following bill; which was referred to the Committee on Financial Services
A BILL
To require the Secretary of the Treasury to conduct a study
and report on the exposure of the United States to
the financial sector of the People’s Republic of China,
and for other purposes.
Be it enacted by the Senate and House of Representa-1
tives of the United States of America in Congress assembled, 2
SECTION 1. SHORT TITLE. 3
This Act may be cited as the ‘‘China Financial 4
Threat Mitigation Act of 2025’’. 5
SEC. 2. CHINA FINANCIAL THREAT MITIGATION. 6
(a) R
EPORT.—Not later than one year after the date 7
of the enactment of this Act, the Secretary of the Treas-8
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•HR 1549 IH
ury, in consultation with the Chairman of the Board of 1
Governors of the Federal Reserve System, the Chairman 2
of the Securities and Exchange Commission, the Chair-3
man of the Commodity Futures Trading Commission, and 4
the Secretary of State, shall conduct a study and issue 5
a report on the exposure of the United States to the finan-6
cial sector of the People’s Republic of China that in-7
cludes— 8
(1) an assessment of the effects of significant 9
risks in the financial sector of the People’s Republic 10
of China on the United States and global financial 11
systems; 12
(2) a description of the policies the United 13
States Government is adopting to protect the finan-14
cial stability of the United States and the global 15
economy from any risks described under paragraph 16
(1); 17
(3) a description and evaluation of the trans-18
parency, completeness, and reliability of Chinese eco-19
nomic data; and 20
(4) recommendations for additional actions the 21
United States Government, including United States 22
representatives at relevant international organiza-23
tions, should take to strengthen international co-24
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•HR 1549 IH
operation to monitor and mitigate such financial sta-1
bility risks and protect United States interests. 2
(b) T
RANSMISSION OF REPORT.—The Secretary of 3
the Treasury shall transmit the report required under sub-4
section (a) not later than one year after the date of enact-5
ment of this Act to the Committees on Financial Services 6
and Foreign Affairs of the House of Representatives, the 7
Committees on Banking, Housing, and Urban Affairs and 8
Foreign Relations of the Senate, and to the United States 9
representatives at relevant international organizations, as 10
appropriate. 11
(c) C
LASSIFICATION OF REPORT.—The report re-12
quired under subsection (a) shall be unclassified, but may 13
contain a classified annex. 14
(d) P
UBLICATION OFREPORT.—The Secretary of the 15
Treasury shall publish the report required under sub-16
section (a) (other than any classified annex) on the 17
website of the Department of the Treasury not later than 18
one year after the date of enactment of this Act. 19
Æ
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