U.S. Treasury Secretary Janet Yellen attends a press convention at U.S. Ambassador’s residence in Beijing on April 8, 2024.
Pedro Pardo | Afp | Getty Photos
BEIJING — U.S. Treasury Secretary Janet Yellen stated Monday that future discussions between the U.S. and China will concentrate on Beijing’s must shift its coverage on trade and the financial system.
“We intend to underscore the need for a shift in policy during these talks — building on the over two hours I spent on this topic with the Vice Premier last week,” she stated in ready remarks for a press convention Monday, as she wrapped up the fourth and ultimate full day of her trip to China.
She arrived in Guangzhou on Thursday and is about to depart Beijing on Tuesday.
Yellen stated her conversations with Chinese language officers throughout her journey mentioned plans Beijing had for its financial system. However she didn’t elaborate.
Throughout her journey, Yellen met with high Chinese language officers together with Chinese language Premier Li Qiang in Beijing and Chinese language Vice Premier He Lifeng in Guangzhou.
“Over the past year, we have put our bilateral relationship on more stable footing,” Yellen stated in prepared remarks for her assembly with Chinese language Premier Li Qiang in Beijing on Sunday.
“This has not meant ignoring our differences or avoiding tough conversations,” she stated. “It has meant understanding that we can only make progress if we directly and openly communicate with one another.”
In a readout from China, Li stated Beijing hoped the U.S. would abide by market financial system norms and keep away from politicizing commerce points. He stated the event of China’s new power trade will make vital contributions to world carbon neutrality efforts.
The U.S. and China agreed to “intensive exchanges on balanced growth in the domestic and global economies,” based on a Treasury readout following Yellen’s conferences in Guangzhou with Chinese language Vice Premier He Lifeng.
The 2 international locations additionally agreed to “start Joint Treasury-PBOC Cooperation and Exchange on Anti-Money Laundering to expand cooperation against illicit finance and financial crime,” the readout stated.
The Chinese language facet didn’t explicitly point out such agreements, however stated each side deliberate to take care of communication. Beijing additionally “expressed serious concerns” about U.S. commerce restrictions.
The Chinese language readout described the talks as “constructive,” and famous conversations about “balanced economic growth,” “financial stability” and “anti-money laundering.” That is based on a CNBC translation.
The U.S. Treasury secretary additionally met Minister of Finance Lan Fo’an, the mayors of Beijing and Guangzhou, representatives of U.S. companies and professors and college students at Peking College in the course of the go to.
It is a growing story. Please verify again for updates.
