World, Economy

Economy on agenda as China, US continue high-level exchanges

Chinese vice premier, US secretary of treasury hold video talks to discuss trade, economy

Riyaz ul Khaliq   | 02.06.2021
Economy on agenda as China, US continue high-level exchanges


Top officials of China and the US discussed bilateral economic relations on Wednesday.

This is the second such contact in a week between the world’s top two economies whose relations went spiraling down in past few years.

Chinese Vice Premier Liu He, chief of the Chinese side of the China-US comprehensive economic dialogue, spoke to US Secretary of Treasury Janet Yellen via video link, Chinese-state run Xinhua News reported.

“The two sides believed that the China-US economic relations are very important,” the report said.

Liu, who is also a member of the Political Bureau of the Communist Party of China Central Committee, last Thursday had held talks with US Trade Representative Katherine Tai.

The talks were called “candid, practical and constructive exchanges in the spirit of equality and mutual respect” as the two sides had “agreed to continue their negotiations.”

“In the spirit of equality and mutual trust, they conducted extensive exchanges on the macroeconomic situation and bilateral and multilateral cooperation, candidly exchanged views on issues of mutual concern, and expressed willingness to maintain communication,” Xinhua reported regarding today’s meeting.

This is the third time under the Biden administration that the two sides have held high-level exchanges since top diplomats met in Alaska this March.

China and the US have seen bilateral relations suffer, especially under the administration of former US President Donald Trump.

Trade between the US and China stands at around $560 billion.

In January last year, the US and China signed the first phase of their bilateral trade deal under which Beijing promised to increase its purchases of US products and services by at least $200 billion.

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