China conveys ‘concerns’ to US during Yellen’s visit

Issues relate to sanctions, tariffs, investment restrictions

BEIJING, April 9, (Xinhua): During U.S. Treasury Secretary Janet Yellen’s visit to China, China clearly expressed its serious concerns to the U.S. side about U.S. sanctions on Chinese companies, tariffs levied on Chinese goods, and restrictions on investment in China, according to China’s Ministry of Finance.

Addressing a press briefing regarding Yellen’s visit from April 4 to 9, Vice Minister of Finance Liao Min said that such actions by the United States harm the legitimate rights and interests of Chinese companies and people, and are also not conducive to the well-being of U.S. companies and people.

“China welcomes the U.S. statement that it does not seek to decouple from China, and hopes that the U.S. side will take concrete actions to stop sanctions and restrictions on Chinese companies,” Liao said.

“The two sides believe that every country has legitimate needs to safeguard national security, but China stressed that the concept of ‘national security’ should not be generalized, and the so-called ‘diversification’ should not be used as an excuse to undermine the normal trade and investment exchanges between the two countries and around the world, as well as the stability of the industrial production and supply chains,” Liao said.

He noted that in addition to these issues, the discussions between Chinese Vice Premier He Lifeng and U.S. Treasury Secretary Yellen also covered other major topics, including the macroeconomic situations of both nations, the response to global challenges, and the exchange of mutual concerns.

According to Liao, China and the United States have reached two new consensus outcomes during Yellen’s trip. First, the finance departments of both nations will take the lead in exchanges on the issue of balanced economic growth of the two countries and the world under the framework of the China-U.S. economic working group. Second, led by the People’s Bank of China and the U.S. Department of the Treasury, discussions on financial stability, sustainable finance, anti-money laundering and other issues under the framework of the bilateral financial working group will be held continuously.

He added that the fourth meeting of these two working groups will also be held separately in the middle of this month in the United States.

U.S. Treasury Secretary Janet Yellen attends a press conference in Beijing, China, Monday, April 8, 2024. Ever since she ate mushrooms that can have psychedelic effects in Beijing last July, Americans and Chinese have been united in their interest in what Janet Yellen will eat next. (AP)