BEIJING — Janet Yellen, the Treasury Secretary, is scheduled to arrive in China on Thursday for a series of meetings with Chinese officials spanning four days.
This visit marks her second trip to China since the summer, reflecting efforts by both the U.S. and China to enhance high-level communication amid a generally tense relationship.
Secretary of State Antony Blinken is also expected to make another visit to China later this year.
Yellen expressed the expectation of continued and deepening dialogue at senior levels, aiming to avoid misunderstandings that can arise from insufficient communication.
“We went for too long with too little communication, and misunderstandings developed,” she told reporters ahead of her trip to China.
Her itinerary includes visits to Guangzhou, the capital of China’s export-heavy Guangdong province, as well as the national capital, Beijing.
Here is the schedule of her meetings:
- Friday, April 5: Meeting with Vice Premier He Lifeng, Guangdong Governor Wang Weizhong, economic experts, and AmCham China business representatives.
- Saturday, April 6: Continuation of meetings with Vice Premier He Lifeng.
- Sunday, April 7: Meeting with Premier Li Qiang, Finance Minister Lan Fo’an, Beijing Mayor Yin Yong, leading Chinese economists, and students and professors from Peking University.
The discussions are expected to focus on addressing unfair trade practices and highlighting the global economic impacts of Chinese industrial overcapacity.
This issue has led to increased scrutiny of China's manufacturing capabilities, including its use of subsidies and policy support, enabling Chinese companies to sell products such as solar panels at significantly lower prices than manufacturers in other countries.
Guangdong stands out as the leading province in China in terms of export value, with the province exporting nearly 5.4 trillion yuan ($750 billion) in manufactured products last year, predominantly in equipment.
In addition to trade matters, Yellen will also discuss expanding bilateral cooperation on countering illicit finance to combat criminal activities such as drug trafficking and fraud.
She will also address financial stability, climate change, and resolving debt distress in developing nations during her meetings in China.
This trip marks Yellen's third meeting with Vice Premier He Lifeng, with plans for another meeting later this month at the International Monetary Fund and World Bank Group spring meetings in Washington, D.C.