Requires the Treasury Secretary to instruct the U.S. executive director at the International Monetary Fund to press China for more transparency about its exchange rate policies, and ends that requirement after seven years or sooner if China meets specified conditions.

• Directs the U.S. executive director at the IMF to advocate for more Chinese transparency on exchange rate arrangements, including indirect currency intervention through Chinese banks and state-owned enterprises.
• Covers China's use of Hong Kong's financial system to influence exchange rates and the value or use of Special Drawing Rights.
• Requires the Treasury Secretary to report to Congress annually, starting one year after enactment, on advocacy actions taken and China's compliance.
• Ends the requirement 30 days after the IMF Governor reports that China is in substantial compliance with IMF exchange rate obligations, or seven years after enactment, whichever comes first.

• Foreign Relations Committee (Senate)

International Affairs