Yellen kicks off China meetings with overcapacity concerns, encouraging market-oriented reforms
Treasury Secretary Janet Yellen kicked off her first full day of official meetings in China discussing overcapacity concerns and market-oriented reforms.
BEIJING — Treasury Secretary Janet Yellen kicked off her first full day of official meetings in China with discussion about overcapacity concerns and encouragement to pursue market-oriented reforms.
Yellen arrived in the southern Chinese city of Guangzhou late on Thursday and is set to travel to Beijing on Saturday, where she will stay until Tuesday. It is her second trip to China as Treasury secretary.
It “remains crucial” to “closely communicate on issues of concern such as overcapacity and national security-related economic actions. It is what the world and our citizens expect of us,” Yellen said in prepared remarks for her meeting with Vice Premier He Lifeng on Friday. He is also director of the office of the Central Commission for Financial and Economic Affairs.
“A healthy economic relationship must provide a level playing field for firms and workers in both countries,” she said, adding the two countries need to collaborate on climate change and debt distress in emerging markets.
Yellen and He are expected to have several discussions through Saturday morning. When she travels to Beijing, Yellen is scheduled to meet with Premier Li Qiang, Finance Minister Lan Fo’an, and Beijing mayor Yin Yong.
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