US Treasury Secretary Janet Yellen will visit Beijing from 6-9 July to participate in couple of meetings with senior Chinese officials to discuss a broad range of issues,including US concerns about a new Chinese counterespionage law, a senior Treasury official said on Sunday.
Yellen’s much-awaited visit is a part of a plan by President Joe Biden to deepen communication between China and US. Their grow relationship and minimize the risks of mistakes when disagreements arise, the official told reporters.
This occurs just a few weeks after Secretary of State Antony Blinken paid a visit to Beijing.
And reached an agreement with Chinese President Xi Jinping to stabilize ties and ensure that the intense rivalry between the two countries does not escalate into conflict.
China protested loudly when Biden subsequently referred to Xi as a “dictator”. But analysts say the remark had little impact on efforts to improve ties.
The Treasury chief plans to tell China’s new economic team that Washington will continue to defend human rights.
And its own national security interests via targeted actions against China but wants to work with Beijing on urgent challenges. Such as climate change and debt distress faced by many countries.
Yellen would meet in Beijing. A second administration official told Reuters. Yellen expected to meet the Chinese Vice Premier He Lifeng.
Economic coercion
Yellen would underscore Washington’s determination to strengthen its own competitiveness. While responding with allies to what Washington calls “economic coercion” and unfair economic practices by China, the first official said.
One clear area of concern involved China’s new national security and espionage law. And the potential implications for foreign and U.S. firms, the official added.
U.S. officials would also reiterate concerns about human rights abuses against the Uyghur Muslim minority.
China’s recent move to ban sales of Micron Technology memory chips, and moves by China against foreign due diligence and consulting firms.
Yellen would also talk with Chinese officials about a long-awaited U.S. executive action curbing outbound investment in China in certain critical sectors, and “make sure they don’t think something is more sweeping than it is or than it’s intended to be,” the official said.