From NBC News: 2024-04-03 21:28:21

U.S. Treasury Secretary Janet Yellen arrived in China for four days of meetings with Chinese officials. This is her second trip since the summer as part of efforts to increase high-level communication between the two countries. Secretary of State Antony Blinken is also scheduled to visit China later this year.

Yellen’s itinerary includes meetings with Chinese officials in Guangzhou and Beijing. The discussion topics will revolve around unfair trade practices, Chinese industrial overcapacity, and expanding cooperation on countering illicit finance. This visit aims to strengthen dialogue and address economic issues affecting both countries.

China has been under scrutiny for its manufacturing capabilities, which have led to trade tensions with the EU. Guangdong, China’s top province for exports, focuses on improving productivity and developing new sectors like energy storage and commercial aviation. Yellen’s trip also aims to address financial stability, climate change, and debt distress in developing nations.

Yellen’s meetings in China will focus on addressing illicit finance, countering criminal activity, and strengthening financial stability. This marks her third meeting with Vice Premier He Lifeng, who also serves as the director of the office of the Central Commission for Financial and Economic Affairs. The visit aims to drive progress on shared efforts against criminal activities like drug trafficking and fraud.

Read more: Here’s who Treasury Secretary Janet Yellen is going to meet in China