The China -US Economic Working Group Conference was held in Washington, and the two sides once again confronted the issues of overcapacity of industrial capacity.
Comprehensive Bloomberg News Agency and Nanhua Morning Post reported that the US Treasury Department issued a press release after the meeting on Tuesday (April 16) that the fourth meeting of the Sino -US Economic Working Group discussed the issue of "balanced growth", andThe United States continues to express concerns about Chinese non -market practices and overcapacity in industrial capacity.
The press release said that the two sides also jointly communicated on the issue of anti -money laundering, and said that the two countries "both agreed to discuss these issues further."
During the visit of US Treasury Secretary Yellen last week, the United States' concerns about China's industrial capacity overcapacity became the main topic.During the visit to Beijing, Yellen pointed out that China has further improved its huge manufacturing capacity, which has become a common concern in the world, and urged Beijing to focus on boosting domestic demand.
Yellen delivered a speech before attending the meeting on Tuesday that she will focus on "strengthen communication" with China under the instructions of the US President Biden.
Yelun said: "I still believe that solving overcapacity and a wider macroeconomic imbalance can help China's own economy."
The possibility of the United States requires changing industrial policies.Beijing believes that Chinese companies have been targeted at developed countries and have filed a lawsuit with the World Trade Organization (WTO) for some subsidy policies in the United States.
After the meeting, Liu Pengyu, a spokesman for the Chinese Embassy in Washington, once again refuted the allegations of overcapacity.He said that indeed, in recent years, the exports of Chinese electric vehicles, lithium batteries and photovoltaic products have increased, but this is the result of "international division of labor and market demand".
Liu Pengyu said that the balance of supply and demand is just relative. "More often, imbalance is the norm. The best way to solve this imbalance is to let market forces work in accordance with the law of value."
He also criticized that the politicalization of overcapacity and the problem of economic and security issues violated economic laws and harmed China's industry and global economic stability.China believes that all parties should follow the basic principles of market economy such as fair competition and open cooperation.
