U.S. Treasury Secretary Yellen reports "progress" on difficult relations with China: statement

U.S. Treasury Secretary Janet Yellen said 10 hours of bilateral meetings with top Chinese officials in recent days were "direct" and "productive." She said the countries "have made some progress".

Before leaving China, Yellen noted that the United States and China remain at odds on a number of issues, but said she was confident that her visit had contributed to efforts to put the relationship on a more "solid footing." The Reuters story stated that.

"The U.S. and China have significant differences," Yellen said at a news conference at the U.S. Embassy in Beijing, referring to Washington's concerns about what she called "unfair economic practices" and recent punitive actions against American companies. "But President Biden and I do not see the U.S.-China relationship as part of a great national conflict. We believe the world is big enough for both of our countries to prosper," she added.

U.S. Secretary of State Antony Blinken visited Beijing in June, the first trip by an American diplomat during Joe Biden's presidency. Climate Ambassador John Kerry is expected to visit as early as this month.

The states' diplomatic push comes ahead of a possible meeting between Biden and Chinese President Xi Jinping at the G-20 summit in New Delhi, India, in September or the Asia-Pacific Economic Cooperation (San Francisco) meeting scheduled for November.

Yellen added that her visit was intended to establish and deepen ties with China's new economic team, reduce the risk of misunderstandings and pave the way for cooperation in areas such as climate change and the debt problem. "I think we have made some progress, and I think we can have a healthy economic relationship that will benefit both us and the world," she said, adding that she expects increased and more regular communication at the staff level.

As OBOZREVATEL previously reported, the White House has been holding discussions on an agreement with China on cooperation in science and technology. There is a possibility of revising the terms of this agreement or even its non-renewal by the U.S. government.

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