Beijing, China—In a significant move to bolster economic ties, Chinese Vice Premier He Lifeng met with Jay Shambaugh, Under Secretary for International Affairs at the U.S. Department of the Treasury, on Friday in Beijing. The meeting underscores both nations’ efforts to strengthen communication and collaboration amidst global economic challenges.
He Lifeng emphasized the importance of implementing the consensus reached between Chinese President Xi Jinping and U.S. President Joe Biden during their meeting in San Francisco and a phone call in April this year. He stated, “China and the United States should maintain economic communication and exchanges, strengthen macroeconomic policy coordination, properly handle each other’s concerns based on equality and mutual respect, and promote the steady and sound development of China-U.S. economic relations.”
Shambaugh, attending the fifth meeting of the China-U.S. economic working group, echoed the sentiment of cooperation. “The U.S. side is willing to maintain economic communication with China and develop healthy economic relations,” he remarked, highlighting the necessity for ongoing dialogue between the two largest economies in the world.
The discussions are expected to pave the way for enhanced coordination on macroeconomic policies and address mutual concerns, fostering a more stable and constructive bilateral economic relationship. Both parties expressed optimism about the future of China-U.S. economic ties, signaling a commitment to collaboration in the face of global economic uncertainties.
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Chinese, U.S. officials meet on economic and trade affairs in Beijing
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