Sponsors (3)
The bill improves transparency and policymaker tools to identify and mitigate U.S. exposure to Chinese financial and data risks—boosting market resilience and informed decision-making—while creating risks of diplomatic friction, market volatility, and potential costlier regulations and taxpayer-funded compliance.
Financial institutions will receive a clearer, government-backed assessment of U.S. exposure to Chinese financial and data risks, enabling them to better measure, manage, and reduce the likelihood of shock transmission to U.S. markets.
Federal and state policymakers will get targeted recommendations to strengthen international cooperation and mitigation efforts, improving systemic resilience to cross-border financial risks.
The public and investors will gain greater transparency through an unclassified report on Chinese data reliability and U.S. exposures, helping them make better-informed investment and civic decisions.
Publication of adverse assessments could provoke diplomatic friction with China and trigger market volatility that harms investors and broader markets.
Findings could lead to regulatory or policy responses (e.g., restrictions or sanctions) that raise costs for businesses and consumers with China exposure.
Conducting the required study and reporting will impose additional compliance and analysis costs on Treasury and consulted agencies, funded by taxpayers and increasing federal workload.
Based on analysis of 2 sections of legislative text.
Introduced February 24, 2025 by Roger Williams · Last progress July 24, 2025
Directs the Treasury Secretary, working with the Fed, SEC, CFTC, and State, to conduct a one-year study and produce an unclassified report (with an optional classified annex) assessing U.S. exposure to the financial sector of the People’s Republic of China. The report must evaluate risks to U.S. and global financial stability, describe current U.S. policies to protect stability, assess the transparency and reliability of Chinese economic data, and recommend additional domestic and international actions to mitigate risks. Requires the unclassified report to be transmitted to specified Congressional committees and to U.S. representatives at relevant international organizations, and to be published on the Treasury website within one year of enactment; the measure itself creates a reporting requirement only and does not appropriate funds or change substantive law.