What’s new: U.S. Secretary of Treasury Janet Yellen will visit China this week from Thursday to Sunday, the Ministry of Finance confirmed in a statement Monday.
Yellen’s visit comes less than three weeks after U.S. Secretary of State Antony Blinken’s trip to Beijing last month, as the world’s two largest economies continue with efforts to mend fraught relations.
During her four-day trip, Yellen will meet with senior Chinese officials and discuss a range of issues including the importance for both countries to “responsibly manage our relationship, communicate directly about areas of concern, and work together to address global challenges,” according to a statement from the U.S. Treasury Department.
The background: President Xi Jinping’s meeting with Blinken on June 19 in Beijing signaled a thaw in relations, as both sides agreed to stabilize ties and reduce the risk of miscalculations. Blinken was the first top American diplomat to visit China in nearly five years.
The two countries also agreed to explore increasing the number of flights and encourage students, scholars and business professionals to visit each other.
Beijing and Washington have long sparred over issues including trade and Taiwan. In February, an alleged Chinese surveillance balloon that strayed into U.S. airspace further strained bilateral ties.
Contact reporter Kelly Wang (jingzhewang@caixin.com) and editor Bertrand Teo (bertrandteo@caixin.com)
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