On April 8, 2024, U.S. Treasury Secretary Janet Yellen attended a press conference at the U.S. Ambassador’s Residence in Beijing.
Pedro Pardo | AFP | Getty Images
BEIJING – U.S. Treasury Secretary Janet Yellen said on Monday that future discussions between the United States and China will focus on whether Beijing needs to change its industrial and economic policies.
“We intend to emphasize the need for policy change during these talks – building on the more than two hours of discussions I had with the deputy prime minister on this topic last week,” she said in prepared remarks at a news conference on Monday. This is the fourth and last day of her trip to China.
She arrived in Guangzhou on Thursday and is expected to leave Beijing on Tuesday.
Yellen said Beijing’s economic plans were discussed in her conversations with Chinese officials during her visit. But she did not elaborate.
During her visit, Yellen met with senior Chinese officials, including Chinese Prime Minister Li Qiang in Beijing and Chinese Vice Premier He Lifeng in Guangzhou.
“Our bilateral relationship has been on a more stable foundation over the past year,” Yellen said. prepared speech She met with Chinese Prime Minister Li Qiang in Beijing on Sunday.
“This doesn’t mean ignoring our differences or avoiding difficult conversations,” she said. “This means understanding that we can only make progress if we communicate directly and openly with each other.”
Li Keqiang said in a statement issued by China that Beijing hopes the United States will abide by market economic norms and avoid politicizing trade issues. He said that the development of China’s new energy industry will make an important contribution to global carbon neutrality.
The United States and China agreed to “engage in close exchanges on balanced domestic and global economic growth,” according to a Treasury Department announcement released after Yellen met with Chinese Vice Premier He Lifeng in Guangzhou.
The two countries also agreed to “launch joint anti-money laundering cooperation and exchanges between the Ministry of Finance and the People’s Bank of China to expand cooperation in combating illegal finance and financial crimes,” the statement said.
China made no explicit mention of such an agreement but said the two sides planned to maintain communication. Beijing also “expresses serious concern” over U.S. trade restrictions.
China’s briefing called the talks “constructive” and pointed to dialogue on “balanced economic growth,” “financial stability” and “anti-money laundering.” That’s according to CNBC’s translation.
During the visit, the U.S. Treasury Secretary also met with Treasury Secretary Lan Foan, the mayors of Beijing and Guangzhou, representatives of U.S. companies, and teachers and students of Peking University.
This is a development story. Please check back for updates.
