Bill > HR839

This bill, the China Exchange Rate Transparency Act of 2023, requires the United States Executive Director at the International Monetary Fund (IMF) to advocate for increased transparency from China regarding its exchange rate arrangements and policies. The bill notes that China has committed to orderly exchange rate arrangements and avoiding exchange rate manipulation under the IMF's Articles of Agreement, but that China has provided limited transparency on its exchange rate mechanism, making it difficult for the U.S. Treasury to assess the degree to which China's actions are designed to impact the exchange rate. The bill directs the U.S. to advocate for stronger IMF surveillance and consideration of China's performance as a stakeholder in the international monetary system during IMF governance reviews. The bill will sunset either 30 days after the U.S. Governor of the IMF reports that China is in substantial compliance with its IMF obligations, or 7 years after the bill's enactment, whichever comes earlier.