U.S. Treasury Secretary Janet Yellen (center) and others wait to greet Chinese President Xi Jinping at San Francisco International Airport before Xi Jinping meets U.S. President Joe Biden on November 14, 2023.
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BEIJING — U.S. Treasury Secretary Janet Yellen is scheduled to arrive in China on Thursday ahead of four days of meetings with Chinese officials.
It is her second visit to the country since the summer, as the United States and China seek to increase high-level communication in an already tense relationship. US Secretary of State Antony Blinken will also visit China again later this year.
“I think our expectation is that we will continue to have sustained and in-depth conversations at the top and increasingly at every level. We communicated for too long, communicated too little, and had misunderstandings,” Yellen said at the event. told reporters before arriving at the White House. China.
Her trip will cover the southern city of Guangzhou – the capital of China’s export-heavy Guangdong province – as well as the nation’s capital Beijing, one person said. Press release.
Here’s her full conference itinerary:
- Friday, April 5 — Met with Vice Premier He Lifeng, Governor of Guangdong Province Wang Weizhong, economic experts and business representatives from the American Chamber of Commerce in China
- Saturday, April 6 ——Continue to meet with Vice Premier He Lifeng
- Sunday, April 7 ——Meeted with Premier Li Qiang of the State Council, Minister of Finance Lan Fo’an, Mayor of Beijing Yin Yong, famous Chinese economists, and teachers and students of Peking University
- Monday, April 8 ——Meet with former Vice Premier of the State Council Liu He and Governor of the People’s Bank of China Pan Gongsheng
What will they talk about?
Yellen will discuss “unfair trade practices and highlight the consequences of China’s industrial overcapacity on the global economy,” according to the Treasury Department.
China faces increasing global scrutiny Emphasis is placed on building manufacturing capabilities, including using subsidies and policy support to help Chinese companies sell solar panels and other products at prices far lower than manufacturers in other countries.
In March this year, EU Chamber of Commerce President Jens Eskelund said that trade tensions between the EU and China may escalate as a result.
According to Wind information statistics, Guangdong Province is currently the province with the highest export volume in China.
Tu Gaokun, director of the Guangdong Provincial Department of Industry and Information Technology, said the province’s exports of manufactured goods last year were nearly 5.4 trillion yuan (US$750 billion), of which equipment exports accounted for two-thirds.
He told reporters last week that the province is “committed” to increasing productivity, noting that it aims to build industries such as new energy storage, biomanufacturing and commercial aviation.
Combating “illegal finance”
The U.S. Treasury Department said that during the meeting in China, Yellen will also “work to expand bilateral cooperation in combating illicit finance, which can promote important progress in jointly combating criminal activities such as drug trafficking and fraud.”
Yellen will discuss efforts to strengthen financial stability, combat climate change and address the debt woes of developing countries, the statement added.
This trip will be the third meeting between Yellen and Finance Minister Vice Premier Ho Lifeng. A meeting is scheduled for later this month At the Spring Meetings of the International Monetary Fund and World Bank Group in Washington, D.C.
He Lifeng also serves as director of the Office of the Central Financial and Economic Commission (previously held by Liu He).
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