H.R. 692 · Where this bill is now
In the Senate
Passed the House Feb 10, 2025. Received Feb 11, 2025; no Senate vote yet
What this bill does
In plain words · AI-written from the official summaryPushes IMF to press China on currency transparency
This bill tells the U.S. representative at the International Monetary Fund to use America's influence to get China to be more open about how it manages its currency. Specifically, it asks the IMF to watch for ways China might secretly influence its exchange rate through banks or state companies, to do closer monitoring through both global and one-on-one discussions, and to think about whether China is playing fairly in the global money system when deciding China's voting power at the IMF. The requirement lasts seven years unless China changes its exchange rate practices sooner.
How it affects you
This doesn't directly change things for most Americans in their daily lives. It's mainly about what U.S. officials will push for at international money organizations, aimed at getting more visibility into how China handles its currency, which economists and policymakers watch because it can affect trade and financial markets.
Read the official summary (Introduced in House, Jan 23, 2025)
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.
Written by AI (Claude) using only the official summary by the Congressional Research Service, the Library of Congress’s nonpartisan research staff. It can miss nuance, so check the official summary and the bill text for details.
1st SessionH. R. 692
AN ACT
China Exchange Rate Transparency Act of 2025
Sponsor: Rep. Daniel Meuser (R-PA-9) · Introduced Jan 23, 2025 · International Affairs · 3 versions of the text
Sources: Congress.gov actions and votes · bill text from GovInfo · latest official action Feb 11, 2025: “Received in the Senate and Read twice and referred to the Committee on Foreign Relations.”
How Congress voted
Official roll callsHouse · On Motion to Suspend the Rules and Pass, as Amended · Feb 10, 2025
Motion to Suspend the Rules and Pass, as Amended Passed 388–7
| Party | Yes | No | Didn’t vote |
|---|---|---|---|
| Democrats | 192 | 0 | 23 |
| Republicans | 196 | 7 | 15 |
7 members voted against most of their party: 7 Republicans voted No.
Congress votes on whole bills and amendments, not on single sections.