In a significant move to strengthen bilateral economic relations, Chinese Vice Premier He Lifeng met with U.S. Treasury Under Secretary for International Affairs Jay Shambaugh on Tuesday in Beijing. The meeting, part of the third convening of the China-U.S. economic working group, underscores both nations’ commitment to stabilizing and developing their economic ties.
During the discussions, Vice Premier He emphasized the importance of deepening exchanges and cooperation through the economic working group. “China and the United States should enhance consensus, accumulate results, and work together to bring more benefits to enterprises and the people of both countries,” he stated.
He Lifeng, who also serves as the Chinese lead person for China-U.S. economic and trade affairs, highlighted the need to implement the important consensus reached by the two heads of state at their recent meeting in San Francisco. Last month, Chinese President Xi Jinping and U.S. President Joe Biden engaged in talks aimed at easing tensions and fostering collaboration between the two economic powerhouses.
Jay Shambaugh’s visit signifies continued dialogue and efforts to address mutual concerns amid a complex global economic landscape. The economic working group serves as a critical platform for both sides to navigate challenges and explore opportunities for cooperation.
The meeting reflects a shared understanding of the significant role that stable economic relations play not only for China and the United States but also for the global economy. As the world’s two largest economies, their collaboration is pivotal in addressing international economic issues and promoting global growth.
Observers note that sustained engagement through such working groups can lead to concrete outcomes that benefit businesses, investors, and citizens in both countries. The focus on practical cooperation signals a willingness to move beyond differences and work towards mutually beneficial objectives.
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Chinese vice premier meets U.S. Treasury official in Beijing
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