US and China set up economics and finance working groups

Janet Yellen of the Federal Reserve
US Treasury secretary Janet Yellen

The US and China have set up two working groups to exchange views on economic and financial issues, they announced on September 22.

US Treasury Secretary Janet Yellen and Chinese vice-premier He Lifeng agreed to set up the groups in July, when they met in Beijing. The US Treasury department will work with China’s finance ministry in the economic group, and with the People’s Bank of China (PBoC) in the financial group.

The groups will provide “ongoing structured channels for frank and

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