Allred Helps Introduce Bipartisan, Bicameral Legislation to Provide Transparency Into China’s Economic Data
Washington, D.C. — Congressman Colin Allred (D-TX-32) joined Rep. Anthony Gonzalez (R-OH-16) and U.S. Senator Roger Wicker (R-MS) in introducing the Documenting Adversarial Trade Aggression (DATA) Act yesterday. This bill would establish a China Economic Data Coordination Center within the Bureau of Economic Analysis at the Department of Commerce. Serving as a one-stop shop for information on China’s economic health, the Center would work to collect and consolidate data on China’s financial markets and would also analyze the United States’ exposure to risks and vulnerabilities in China’s financial system.
“America’s economic health relies on our ability to evaluate risks and make strategic decisions based on the available data and it’s no secret that China’s economic data reporting is not transparent. To protect American interests, we must hold China accountable to ensure accurate reporting,” said Congressman Allred. “I’m proud to join my colleagues from both sides of the aisle, in the House and the Senate, in introducing this legislation that would do just that by creating a coordination center to critically analyze available data and distribute reliable information on all aspects of China’s economy.”
“At the core of our U.S.-led international system is a fair and free global market. The Chinese Communist Party (CCP), has proven that they cannot be trusted as they consistently seek to undermine the Free World,” Congressman Gonzalez said. “The economic data the CCP continues to circulate is unreliable and manipulated, hurting American investors and everyday business owners alike. This bipartisan and bicameral legislation will ensure the U.S. government and American investors have reliable data that can be used to measure and assess any risks linked to China’s economy.”
“China has reported misleading data and obscured systemic problems within its financial system for years, putting American companies engaging in international business at risk,” Senator Wicker said. “By establishing a China Economic Data Coordination Center within the Department of Commerce, this legislation would protect American companies from the CCP’s misinformation by exposing gaps in official data and providing a centralized clearinghouse for everything the U.S. government knows about the economic health of China.”
The bill is also cosponsored by Reps. Haley Stevens (D-MI-11), Dean Phillips (D-MN-03), French Hill (R-AR-02), Michael Waltz (R-FL-06) and Andy Barr (R-KY-06),