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China trade
China

China-US relations: economic chiefs Liu He, Janet Yellen in virtual talks

  • ‘Candid’ exchange includes discussion of macro economic situation and importance of bilateral relationship, according to Xinhua
  • Virtual meeting follows Liu’s first conversation on trade issues with US trade representative

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Chinese Vice-Premier Liu He and US Treasury Secretary Janet Yellen have had a virtual discussion about economic issues. Photo: Reuters
Wendy WuandFrank Tang
China’s economic tsar Liu He held a virtual meeting with US Treasury Secretary Janet Yellen on Wednesday morning, days after Liu’s first conversation on trade issues with US trade representative Katherine Tai, in a sign observers said indicated the need for economic policy coordination between the world’s two largest economies.
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Both sides agreed China-US economic relations were “very important”, and discussions included the macro economic situation, as well as bilateral and multilateral cooperation “in an attitude of equality and mutual respect”, according to a brief statement by state news agency Xinhua.

They also had “candid” exchanges on issues of concern and agreed to keep communicating, the statement said.

The US Treasury Department said in a brief statement that Yellen had discussed US plans to “support a continued strong economic recovery and the importance of cooperation on areas that are in US interest”, while at the same time “frankly” talking about issues of concern.

Yellen noted that she looked forward to further discussions with Liu, the statement said.

Taoran Notes, a social media account affiliated with the state-run Economic Daily that is used by Beijing to manage expectations on China-US trade talks, said hours after the latest discussion that “communications between China and the US on economy and trade, which once went silent, have resumed”.

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