H.Res.414 - To encourage the People's Republic of China to fulfill its commitments under international trade agreements, support the United States manufacturing sector, and establish monetary and financial market reforms.108th Congress (2003-2004)
Summary: H.Res.414 — 108th Congress (2003-2004)
Passed House without amendment (10/29/2003)
(This measure has not been amended since it was introduced. The summary of that version is repeated here.)
Commends the President for continued efforts to engage the Government of the People's Republic of China.
Joins the President in encouraging the People's Republic of China to meet its commitments as a member of the World Trade Organization and the international community.States that the Chinese economy would benefit from a market-determined exchange rate to avoid market and trade distortions.
Joins the President in continuing to encourage China's efforts to modernize its financial system which includes the establishment of a more flexible exchange rate and compliance with its trade agreement obligations.
Urges the Administration to continue its efforts to facilitate moves towards a market-based valuation of the renminbi, relaxation of capital controls, and reform of its banking sector.
Encourages U.S. government efforts to promote innovation, reduce costs, and level the international playing field in the manufacturing sector.