US, China to Launch Regular Talks on Economy

‘It is vital that we talk, particularly when we disagree,’ Treasury Secretary Yellen says.

Treasury Secretary Janet Yellen delivers remarks during a meeting of the Financial Stability Oversight Council at the U.S. Treasury in Washington, on July 28, 2023. Kevin Dietsch/Getty Images

The United States has launched two working groups with China on economic and financial issues to provide a regular policy communication forum between the world’s two largest economies.

The Department of the Treasury and China’s Ministry of Finance will assume the oversight role for the Economic Working Group, while the People’s Bank of China will be the Treasury Department’s counterpart for the Financial Working Group.