To restrict the Chinese Government from accessing United States capital markets and exchanges if it fails to comply with international laws relating to finance, trade, and commerce.
This bill (HR 8394) restricts the Chinese government and its controlled commercial entities from accessing U.S. capital markets, exchanges, and financial services if the U.S. Treasury determines they violate specific international financial laws. It targets new investments and transactions by prohibiting U.S. financial entities (like stock exchanges, banks, and brokers) from accepting such investments if the Chinese government fails to comply with three key areas: sovereign debt succession rules, transparency/disclosure standards, and prohibitions against discriminatory payments or default. The measure applies only to new transactions, not existing investments, and is triggered by a Treasury determination after consultation with the Committee on Foreign Investment in the U.S.
Bill status
in committee
1 of 4 stages cleared
Introduction
May 2024
Committee Review
Floor Vote
President
Introduced May 14, 2024
Last action Sep 3, 2024
Floor votes
How they voted
No floor votes recorded yet.
Full legislative history
Actions timeline
Total actions
3
Key actions
0
Committee
2
Sep 3, 2024
Committee
Referred to the Subcommittee on Commodity Markets, Digital Assets, and Rural Development.
lower
May 14, 2024
Committee
Referred to the Committee on Financial Services, and in addition to the Committee on Agriculture, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
lower
May 14, 2024
Introduced
Introduced in House
lower
1 primary · 1 co-sponsor
Sponsors
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