The bill is focused on increasing transparency in the exchange rate policies of China, particularly concerning its lack of transparency and potential manipulation of its exchange rate mechanism.
It calls for the United States Executive Director at the International Monetary Fund (IMF) to advocate for increased transparency from China and enhanced surveillance by the IMF regarding China's exchange rate arrangements.
The bill also emphasizes the need for stronger consideration of China's performance as a responsible stakeholder in the international monetary system during governance reviews of the IMF.
The Act includes a sunset clause, indicating that it will expire 30 days after the United States Governor of the IMF reports substantial compliance by China with its obligations under the IMF's Articles of Agreement, or 7 years after its enactment.