Washington and Beijing have created two working groups to tackle economic and financial issues, in the latest effort to increase engagement and stabilise the turbulent US-China relationship.
US Treasury secretary Janet Yellen and her Chinese counterpart vice-premier He Lifeng will oversee the groups, which come two months after Yellen visited Beijing for meetings with top Chinese economic officials.
Yellen said that establishing the groups, which built on her visit in July, marked “an important step forward in our bilateral relationship”. She added that the groups would “serve as important forums to communicate America’s interests and concerns” and promote healthy economic competition between the rivals.
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