U.S. Treasury Secretary Janet Yellen met with China's Vice Premier He Lifeng in Guangzhou on Friday during a six-day visit to the country amid intensifying rivalry between the two largest economies over such issues as what Washington considers overproduction of Chinese electric vehicles.
Ahead of the meeting with the economic policy chief, Yellen said in the capital of Guangdong Province that Washington seeks a healthy economic relationship with Beijing that provides a level playing field for American workers and businesses, according to the Treasury Department.
The department has said Yellen's visit to China will build on "the intensive diplomacy she has engaged in to responsibly manage the bilateral economic relationship and advance American interests."
Yellen will hold a second round of talks with He on Saturday and meet Chinese Premier Li Qiang on Sunday, it said. She is slated to meet People's Bank of China Governor Pan Gongsheng on Monday.
The secretary is expected to express concerns about China's industrial capacity, including its massive production of EVs and solar panels that are flooding into global markets.
Yellen and He previously held talks in San Francisco last November.
