Yellen sets off for 7-day visit to China

The U.S. Department of the Treasury announced that Treasury Secretary Yellen will leave for China on Wednesday (3rd) for a seven-day visit, focusing on discussing with Chinese officials the impact of China's industrial overcapacity on the global economy.

This is Yellen's second visit to China as Treasury Secretary. Her first visit to China since taking office in July last year is seen as a sign of the cooling of tensions between China and the United States.

Before Yellen's visit to China, President Xi Jinping had a phone call with U.S. President Joe Biden on Tuesday night, marking the first direct dialogue between the two heads of state since November last year.

According to the itinerary announced by the U.S. Treasury Department, Yellen will arrive in Guangzhou on Thursday, during which she will meet with Wang Weizhong, the governor of Guangdong Province, hold bilateral talks with Vice Premier He Lifeng, and attend a conference hosted by the American Chamber of Commerce in China and attended by representatives of U.S. companies in China. Activity.

Yellen will travel to Beijing on Saturday afternoon, where she will meet with Premier Li Qiang, Beijing Mayor Yin Yong, Finance Minister Lan Fo'an, former Vice Prime Minister Liu He, and People's Bank of China Governor Pan Gongsheng. Yellen will also go to Peking University to communicate with teachers and students.

The U.S. Treasury Department stated that Yellen's trip will focus on raising the consequences of China's industrial overcapacity on the global economy and asking China to correct unfair trade practices and ensure that American workers and companies are treated fairly.

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