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Tracking US Retirement Risk and Financial Exposure to China.

This law establishes a new data center to monitor China's financial system and assess risks to the US economy. A key focus is tracking the safety of US retirement accounts and investments linked to China. This aims to help the government develop strategies to protect citizens' finances from potential crises and increase transparency regarding financial risks.
Key points
Creation of a China Economic Data Coordination Center to collect detailed information on Chinese financial markets and debt.
Mandate to specifically track US retirement accounts tied to Chinese investments, aiming to safeguard citizens' savings.
The government must provide monthly public updates and quarterly reports to Congress on key findings and risks.
The Treasury Secretary is required to develop strategies for responding to potential threats within the Chinese financial system using the collected data.
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Expired
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Additional Information
Print number: 118_S_970
Sponsor: Sen. Wicker, Roger F. [R-MS]
Process start date: 2023-03-23
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Summarized by: gemini-flash-latest
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

DATA Act

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 118_S_970.

Which chamber initiated this legislation?

This legislation was initiated in the Senate.

When did the legislative process begin?

The process officially started on 2023-03-23.

What are the main provisions?

Key points include:

  • Creation of a China Economic Data Coordination Center to collect detailed information on Chinese financial markets and debt.
  • Mandate to specifically track US retirement accounts tied to Chinese investments, aiming to safeguard citizens' savings.
  • The government must provide monthly public updates and quarterly reports to Congress on key findings and risks.
  • The Treasury Secretary is required to develop strategies for responding to potential threats within the Chinese financial system using the collected data.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Sen. Wicker, Roger F. [R-MS].

What is the latest detailed status?

The latest detailed status is: Introduced in Senate

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-27.

CATEGORIES

Economy Security