Yellen marks the second top ranking U.S. official to visit China in recent weeks, following Secretary of State Antony Blinken last month
U.S. Treasury Secretary Janet Yellen will travel to Beijing from July 6-9 for meetings with Chinese officials to cover topics including U.S. concerns over a new Chinese counterespionage law, a senior Treasury official said on Sunday.
President Joe Biden has been pushing to deepen communications between the world’s leading economies, and it is hoped this trip can help stabilise the relationship and minimise the risks of any possible disagreements.
It follows a recent trip by Secretary of State Antony Blinken just weeks ago, which also sought to ensure the two countries do not fall into conflict. Biden did cause some concern in Beijing when he subsequently referred to China’s President, Xi Jinping as a “dictator”, however the overall response following those remarks has been muted.
Yellen plans to tell China that Washinton will continue to defend human rights and its own national security interests, but seeks to cooperate on climate change and rising debt distress faced by many smaller countries.
“We seek a healthy economic relationship with China, one that fosters growth and innovation in both countries,” the official said. “We do not seek to decouple our economies. A full cessation of trade and investment would be destabilising for both our countries and the global economy.”
Yellen was expected to meet the Chinese Vice Premier He Lifeng, according to a second Treasury Department official.