The U.S. and China agreed to hold talks that will address a key American complaint about China’s economic model, Treasury Secretary Janet Yellen said Saturday on the second day of an official visit to China.
The two sides will hold “intensive exchanges” on more balanced economic growth, according to a U.S. statement issued after Yellen and Chinese Vice Premier He Lifeng held extended meetings over two days in the southern city of Guangzhou.
They also agreed to start exchanges on combating money laundering, the U.S. statement said.
Yellen, who headed to Beijing after starting her five-day visit in one of China’s major industrial and export hubs, said the exchange on balanced growth would create a structure to hear each other’s views and try to address American concerns about manufacturing overcapacity in China.