U.S. Treasury Secretary Janet Yellen is set to meet Chinese Premier Li Qiang on Friday in Beijing, the Treasury Department said, with her China visit intended to help improve ties that have become strained amid an intensifying rivalry between the world's two largest economies.
Yellen, who is on her first trip to the Asian country as Treasury chief, tweeted upon her arrival in Beijing on Thursday, "We seek a healthy economic competition that benefits American workers and firms and to collaborate on global challenges."
She also said the visit "presents an opportunity to communicate and avoid miscommunication or misunderstanding." Her four-day China stop follows a trip to Beijing last month by U.S. Secretary of State Antony Blinken, during which the two countries agreed to stabilize their complex relationship.
China's Finance Ministry said Friday Yellen's visit is aimed at implementing a consensus reached between the two countries' leaders last November in Indonesia to "strengthen communication and exchanges in the financial field."
The ministry said there will be no winners from trade wars or moves to decouple.
"We hope the United States will take practical actions to create a favorable environment for the healthy development of bilateral economic and trade relations and the realization of mutual benefit and win-win results," it added.
In her talks with Li, Yellen is expected to seek cooperation from China in addressing issues such as climate change and debts owed by developing countries.
During her stay through Sunday, Yellen is likely to hold talks with Chinese Vice Premier He Lifeng, who is in charge of economic and financial affairs.
