On April 7, US Treasury Secretary Janet Yellen and Chinese Premier Li Qiang expressed optimism about the future of US-China cooperation. This information was released when Ms. Yellen had a series of four-day talks with senior Chinese officials.
Ms. Yellen told Premier Li that the US-China relationship can only progress with direct and open communication. For his part, Mr. Li said: "China sincerely hopes that the two countries will be partners, not rivals."
He added that Chinese internet users have been closely following details of Ms Yellen's visit, showing “an expectation that US-China relations will continue to improve”.
The US Treasury Secretary traveled to the Chinese capital after visiting the southern city of Guangzhou, where she held hours of talks with her counterpart, Vice Premier He Lifeng.
The two countries have agreed to hold talks on balanced growth within the framework of an existing working group, allowing officials to discuss a key US concern about “overcapacity”.
Ms. Yellen's trip marks her second visit to China in less than a year.
“Although much work remains to be done, I believe that over the past year we have put the bilateral relationship on a more stable footing,” Yellen said at the opening of two days of high-level talks in Beijing.
Ms. Yellen also emphasized the importance of localities: “Local governments play an important role, from promoting consumption to addressing overinvestment, and the city of Beijing is of particular importance.”
The US leader also added that both countries - the world's two largest economies - had an obligation to "responsibly manage our complex bilateral relationship" and show leadership when it comes to addressing global challenges.
On April 6, the US Treasury Department also announced that US and Chinese officials will begin negotiations to cooperate on money laundering. The goal is to cut off financial resources for drug traffickers.
While in Beijing, Ms. Yellen also met with the city's mayor, Yin Yong, and Chinese Finance Minister Lan Fo'an.
On April 8, she will meet with former Vice Premier Liu He and Governor of the People's Bank of China (PBoC) Pan Gongsheng.
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