International Courant
US Treasury Secretary Janet Yellen attends a press convention on the US Ambassador’s residence in Beijing on April 8, 2024.
Pedro Pardo | Episode | Getty Photos
BEIJING – U.S. Treasury Secretary Janet Yellen mentioned Monday that future discussions between the U.S. and China will give attention to Beijing’s must shift its insurance policies on trade and the financial system.
“We intend to underscore the necessity for coverage change in these conversations – constructing on the greater than two hours I spent with the Deputy Prime Minister on this subject final week,” she mentioned in ready remarks for a press convention on Monday, whereas she accomplished. the fourth and final full day of her journey to China.
She arrived in Guangzhou on Thursday and can depart Beijing on Tuesday.
Yellen mentioned her conversations with Chinese language officers throughout her journey mentioned the plans Beijing had for its financial system. However she did not elaborate additional.
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 previous yr, now we have put our bilateral relationship on a extra secure footing,” Yellen mentioned feedback ready earlier than her assembly with Chinese language Premier Li Qiang in Beijing on Sunday.
“This does not imply we must always ignore our variations or keep away from tough conversations,” she mentioned. “It meant understanding that we will solely make progress if we talk straight and overtly with one another.”
In a presentation from China, Li mentioned Beijing hoped the US would adhere to market financial system norms and keep away from politicization of commerce points. He mentioned the event of China’s new vitality trade will make an vital contribution to world carbon neutrality efforts.
The US and China agreed to “arrange intensive exchanges on balanced development within the home and world economies,” in keeping with a Treasury Division readout after Yellen’s conferences in Guangzhou with Chinese language Vice Premier He Lifeng.
The 2 international locations additionally agreed to “launch a joint cooperation and change of the Ministry of Finance and the PBOC within the area of anti-money laundering to broaden cooperation towards illicit financing and monetary crime,” in keeping with the studying.
The Chinese language facet made no express point out of such agreements however mentioned each side deliberate to keep up communications. Beijing additionally expressed “severe issues” about US commerce restrictions.
The Chinese language lecture described the talks as “constructive” and talked about talks on “balanced financial development,” “monetary stability” and “anti-money laundering.” That is evident from a translation from CNBC.
The US Treasury Secretary additionally met with Treasury Secretary Lan Fo’an, the mayors of Beijing and Guangzhou, representatives of US corporations and professors and college students at Beijing College in the course of the go to.
This can be a growth story. Examine again later for updates.
Yellen says US plans to ‘underscore’ want for China to alter coverage
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