 |
| Treasury Secretary Janet Yellen testifies before the House Financial Services Committee during a hearing regarding the state of the international financial system at the Capitol in Washington, June 13. AP-Yonhap |
 |
The four-day visit will start on Thursday, and include meetings with senior officials, according to a one-line statement issued by China's Ministry of Finance on Monday, which gave no further details.
The U.S. Department of the Treasury said Yellen will discuss "the importance for our countries ― as the world's two largest economies ― to responsibly manage our relationship, communicate directly about areas of concern, and work together to address global challenges".
Yellen ― who has long called for cooperation with China on global issues from debt relief to climate change ― is visiting at a time of renewed exchanges between the two powers, following the low point of February's balloon incident and with looming headwinds threatening the global economic recovery.
In previous trade negotiations with Beijing, Yellen spoke often with then vice-premier Liu He. She also talked with Yi Gang, China's central bank governor, in Bali, Indonesia in November.
In her speech in April, Yellen said the U.S. seeks a healthy economic relationship with China that fosters mutually beneficial growth and innovation and expands economic opportunity for American workers and businesses.
However, she also vowed to secure national security interests along with those of its allies and protect human rights through targeted actions.
Meanwhile, the U.S. has intensified tech containment on China, especially limiting its access to advanced chips.
The talks would also be the first major senior-level discussion between the U.S. and the new Chinese government on economic and trade issues when the two countries are seeing widening divergence on monetary policies.
Concerns have piled up that China's post-coronavirus recovery is losing momentum as private economy and manufacturing sector are still struggling.
Beijing has refrained from massive stimulus to prop up the economy, though the central bank cut several benchmark interest rates to lower lending costs.
In the United States, upbeat growth has fueled speculation of further interest rate increases by the U.S. Federal Reserve.
The aggressive rate increases since early last year has led to massive capital outflow from China, complicating its prospects to recover the growth.
In a report released in June, the U.S. Treasury said that China should use available policy space to rebuild consumer confidence and push forward reforms. (SCMP)
Read the full story at SCMP
![[INTERVIEW] Hip-hop group Uptown returns after 13 years with new lineup](https://img.koreatimes.co.kr/upload/thumbnailV2/0eae35da5e9c40c38cf439e550a2eb3e.jpg/dims/resize/178/optimize)
![[INTERVIEW] ASTRO members aim to shine in musical theater](https://img.koreatimes.co.kr/upload/thumbnailV2/df16760dc50f469d93434f66a069465c.jpg/dims/resize/178/optimize)
