July 2, 2023
- Secretary of the Treasury, Janet L. Yellen, will travel to Beijing, China from July 6-9 for meetings with senior officials.
- The visit aligns with President Biden’s directive to deepen communication between the U.S. and China on global macroeconomy, financial developments, and other issues.
- Discussions will revolve around the importance of managing the relationship between the two largest global economies responsibly, addressing areas of concern, and working together to tackle global challenges.
- Further details regarding Secretary Yellen’s visit will be released at a later date.
Unedited Press Release Text:
Media Advisory: Secretary of the Treasury Janet L. Yellen to Travel to the People’s Republic of China
WASHINGTON – Secretary of the Treasury Janet L. Yellen will travel to Beijing, the People’s Republic of China (PRC) from July 6-9 for meetings with senior PRC officials.
Secretary Yellen’s travel follows President Biden’s directive after his meeting with President Xi last November to deepen communication between the U.S. and the PRC on a range of issues, including on the global macroeconomy and financial developments. While in Beijing, Secretary Yellen will discuss with PRC officials 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.
In an April speech, Secretary Yellen laid out three principles guiding America’s economic relationship with the PRC. The United States proceeds with confidence in our long-term economic strength thanks to our historically strong recovery and the investments the Biden Administration is making in America’s productive capacity. First, we seek to secure our national security interests along with those of our allies and to protect human rights through targeted actions that are not intended to gain economic advantage. Second, we seek a healthy economic relationship with China that fosters mutually beneficial growth and innovation and expands economic opportunity for American workers and businesses. Finally, we also seek to cooperate on urgent global challenges like climate change and debt distress.
Additional details of Secretary Yellen’s travel will be announced at a later date.