Sec. 117. Ensuring greater transparency of financing provided by the People’s Republic of China
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The Secretary of the Treasury shall instruct the United States Executive Director of each international financial institution (as defined in section 1701(c)(2) of the International Financial Institutions Act ( 22 U.S.C. 262r(c)(2) ) that it is the policy of the United States to use the voice and vote of the United States at that institution to seek to secure greater transparency with respect to the terms and conditions of financing provided by the Government of China to any country that is a member of the institution and receives financing from the institution, consistent with the rules and principles of the Paris Club.
The Chairman of the National Advisory Council on International Monetary and Financial Policies shall include in the annual report required by section 1701 of the International Financial Institutions Act ( 22 U.S.C. 262r )— a description of progress made toward advancing the policy described in subsection (a); and a discussion of financing provided by entities owned or controlled by the Government of China to countries described in subsection (a), including any efforts or recommendations by the Chairman to seek greater transparency with respect to such financing.
The requirements of subsections
(a)and
(b)shall terminate on the earlier of— the date that is 7 years after the date of the enactment of this Act; or the date that is 30 days after the date on which the Secretary submits to the Committee on Financial Services of the House of Representatives and the Committee on Foreign Relations of the Senate a report stating that the Government of China is in substantial compliance with the rules and principles of the Paris Club.
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Sec. 117
Ensuring greater transparency of financing provided by the People’s Republic of China
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