GovTrack’s Bill Summary
We don’t have a summary available yet.
Library of Congress Summary
The summary below was written by the Congressional Research Service, which is a nonpartisan division of the Library of Congress.
9/5/2007--Passed House without amendment. (This measure has not been amended since it was introduced. The summary of that version is repeated here.) Declares the sense of the House of Representatives that: (1) the government of the People's Republic of China should immediately implement all of its World Trade Organization (WTO) commitments to date in financial services; and (2) it should immediately implement all of its commitments to date made under the auspices of the Strategic Economic Dialogue (SED) initiated by the Secretary of the Treasury. States that U.S. goals for the next SED meeting should be to achieve Chinese commitments toward: (1) removal of all foreign investment ownership caps on banking, life insurance, asset management, and securities; and (2) nondiscriminatory treatment of U.S. financial services firms with regard to licensing, corporate form, and permitted products and services, as well as regulation and supervision. Urges U.S. financial service regulators, in assessing whether applications from Chinese financial institutions meet comprehensive consolidated supervision standards, to consider: (1) whether such applications are for operations and activities in the United States that are currently prohibited for U.S. financial institutions in China; and (2) the extent to which such prohibitions reflect problems with the quality of home country supervision.
House Republican Conference Summary
The summary below was written by the House Republican Conference, which is the caucus of Republicans in the House of Representatives.
No summary available.
House Democratic Caucus Summary
The House Democratic Caucus does not provide summaries of bills.
So, yes, we display the House Republican Conference’s summaries when available even if we do not have a Democratic summary available. That’s because we feel it is better to give you as much information as possible, even if we cannot provide every viewpoint.
We’ll be looking for a source of summaries from the other side in the meanwhile.