PlainBillCongress, translated.Legislation. Context. Public interest.Motion to reconsider laid on the table Agreed to without objection.
Congressional Research Service
Version 81 · Passed House without amendment · Sep 5, 2007
(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.
Showing the opening paragraphs of the official summary.
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.
People & committees
Rep. Marshall, Jim [D-GA-8] · D–GA
Legislative record
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Motion to reconsider laid on the table Agreed to without objection.
On motion to suspend the rules and agree to the resolution Agreed to by the Yeas and Nays: (2/3 required): 401 - 4 (Roll no. 850). (text: CR 9/4/2007 H10032)
House roll call 850 · Individual votesPassed/agreed to in House: On motion to suspend the rules and agree to the resolution Agreed to by the Yeas and Nays: (2/3 required): 401 - 4 (Roll no. 850).(text: CR 9/4/2007 H10032)
House roll call 850 · Individual votesConsidered as unfinished business. (consideration: CR H10111)
At the conclusion of debate, the Yeas and Nays were demanded and ordered. Pursuant to the provisions of clause 8, rule XX, the Chair announced that further proceedings on the motion would be postponed.
DEBATE - The House proceeded with forty minutes of debate on H. Res. 552.
Considered under suspension of the rules. (consideration: CR H10032-10036)
Mr. Marshall moved to suspend the rules and agree to the resolution.
Referred to the House Committee on Financial Services.
Introduced in House
Introduced in House
Primary sources
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Source last updated: Apr 7, 2025. Consult Congress.gov for the current record.
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Analyze H.Res.552 as objectively as possible. Explain its main provisions, who would be affected, possible benefits and harms, implementation, exceptions, and uncertainties. Present the strongest arguments for and against it, and identify evidence needed to assess its public impact.
Examine H.Res.552 through a progressive lens, focusing on fairness, access, economic inequality, and effects on vulnerable communities. Explain potential benefits, costs, and unintended consequences. Consider the strongest counterarguments and distinguish stated goals from demonstrated outcomes.
Examine H.Res.552 through a conservative lens, focusing on fiscal responsibility, institutional stability, federalism, and the scope of government. Explain potential benefits, costs, and unintended consequences. Consider the strongest counterarguments and any provisions that challenge this perspective.
Examine H.Res.552 through a civil-liberties and limited-government lens. Consider individual rights, privacy, voluntary choice, accountability, and government power. Explain tradeoffs, possible safeguards, and the strongest counterarguments without assuming the proposal is beneficial or harmful.