Protecting American Capital Act of 2023

S 860, the Protecting American Capital Act of 2023, requires the U.S. Treasury Secretary to submit annual reports to Congress on U.S. portfolio investments (like stocks and bonds) in China. These reports must detail the types of U.S. investors involved (including state pension funds), specific Chinese sectors receiving investments (like housing), and entities receiving over $100 million. The first report covers investments from 2008 onward, with subsequent reports covering the prior year. The bill affects U.S. investors and Chinese entities receiving such investments by mandating transparency around these financial flows.