Advocacy for increased exchange rate transparency from China

The Secretary of the Treasury shall instruct the United States Executive Director at the International Monetary Fund (in this Act referred to as the IMF) to use the voice and vote of the United States to advocate for— (1) increased transparency from the People’s Republic of China, and enhanced multilateral and bilateral surveillance by the IMF, with respect to the exchange rate arrangements of the People’s Republic of China, including any indirect foreign exchange market intervention through Chinese financial institutions or state-owned enterprises; (2) in connection with consultations with the People’s Republic of China under Article IV of the Articles of Agreement of the IMF, the inclusion of any significant divergences by the People’s Republic of China from the exchange rate policies of other issuers of currencies used in determining the value of Special Drawing Rights; and (3) during governance reviews of the IMF, stronger consideration by IMF members and management of the performance of China as a responsible stakeholder in the international monetary system when evaluating quota and voting shares at the IMF.