By Josh Chin
China and the U.S. have agreed to set up separate working groups to discuss macroeconomic and financial policy matters, the Treasury Department said in a statement on Friday.
The establishment of the groups builds on discussions Treasury Secretary Janet Yellen had with Chinese Vice Premier He Lifeng in Beijing in July, and are part of efforts by the Biden administration to deepen communication with China, the Treasury Department said.
Treasury said it will co-lead the economic working group with China’s Finance Ministry, and team up with China’s central bank to co-lead the financial working group.
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