IB
Union Calendar No. 11
119THCONGRESS
1
STSESSION H. R. 1549
[Report No. 119–21]
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
M
ARCH21, 2025
Additional sponsor: Mr. L
AWLER
M
ARCH21, 2025
Reported with an amendment, committed to the Committee of the Whole
House on the State of the Union, and ordered to be printed
[Strike out all after the enacting clause and insert the part printed in italic]
[For text of introduced bill, see copy of bill as introduced on February 24, 2025]
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•HR 1549 RH
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.
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•HR 1549 RH
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 Threat 4
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 Treasury, 8
in consultation with the Chairman of the Board of Gov-9
ernors of the Federal Reserve System, the Chairman of the 10
Securities and Exchange Commission, the Chairman of the 11
Commodity Futures Trading Commission, and the Sec-12
retary of State, shall conduct a study and issue a report 13
on the exposure of the United States to the financial sector 14
of the People’s Republic of China that includes— 15
(1) an assessment of the effects of significant 16
risks in the financial sector of the People’s Republic 17
of China on the United States and global financial 18
systems; 19
(2) a description of the policies the United States 20
Government is adopting to protect the financial sta-21
bility of the United States and the global economy 22
from any risks described under paragraph (1); 23
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•HR 1549 RH
(3) a description and evaluation of the trans-1
parency, completeness, and reliability of Chinese eco-2
nomic data; and 3
(4) recommendations for additional actions the 4
United States Government, including United States 5
representatives at relevant international organiza-6
tions, should take to strengthen international coopera-7
tion to monitor and mitigate such financial stability 8
risks and protect United States interests. 9
(b) T
RANSMISSION OFREPORT.—The Secretary of the 10
Treasury shall transmit the report required under sub-11
section (a) to the Committees on Financial Services and 12
Foreign Affairs of the House of Representatives, the Com-13
mittees on Banking, Housing, and Urban Affairs and For-14
eign Relations of the Senate, and to the United States rep-15
resentatives at relevant international organizations, as ap-16
propriate. 17
(c) C
LASSIFICATION OFREPORT.—The report required 18
under subsection (a) shall be unclassified, but may contain 19
a classified annex. 20
(d) P
UBLICATION OFREPORT.—The Secretary of the 21
Treasury shall publish the report required under subsection 22
(a) (other than any classified annex) on the website of the 23
Department of the Treasury not later than one year after 24
the date of enactment of this Act. 25
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kjohnson on DSK7ZCZBW3PROD with $$_JOB Union Calendar No.
11
119
TH
CONGRESS
1
ST
S
ESSION
H. R. 1549
[Report No. 119–21]
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 Re-
public of China, and for other purposes.
M
ARCH
21, 2025
Reported with an amendment, committed to the Com-
mittee of the Whole House on the State of the Union,
and ordered to be printed
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