In a significant move to bolster economic relations, Chinese Vice-Premier He Lifeng met with U.S. Treasury Under Secretary Jay Shambaugh in Beijing on Friday. The high-level discussions aimed at stabilizing and developing the economic partnership between China and the United States come at a critical time for global markets.
During the meeting, Vice-Premier He emphasized the importance of upholding the consensus reached between the leaders of both nations during their meeting in San Francisco last November and their subsequent phone call in April. He stressed the need for enhanced communication and coordination on macroeconomic policies, urging that bilateral concerns be addressed equally and respectfully.
Underscoring the U.S.’s commitment to maintaining robust economic dialogues, Shambaugh conveyed a message from U.S. Treasury Secretary Janet Yellen. The message expressed eagerness to foster a healthy economic relationship with China, highlighting the significance of collaboration between the world’s two largest economies.
The meeting coincided with the fifth session of the China-U.S. Economic Working Group, held in Beijing from Thursday to Friday. Co-chaired by Chinese Vice-Minister of Finance Liao Min and Shambaugh, the talks focused on macroeconomic situations and policies, reflecting a shared interest in promoting global economic stability.
These high-level engagements signify a mutual recognition of the pivotal role that both nations play in the global economy. By enhancing dialogue and cooperation, China and the U.S. demonstrate a commitment to addressing economic challenges and opportunities together.
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High-level China-U.S. talks to strengthen economic partnership
cgtn.com
