This week, a group of senior officials of the Bayeng government will go to Shanghai to participate in a high -level meeting. It is hoped that in the case of increasing trade tensions between the two countries, it will maintain the stability of the economic relations between the two parties.
This round of conference convened by the US -China Financial Working Group, which was established last year, will be held on Thursday and Friday.It is expected that officials discussed will include methods to maintain economic and financial stability, capital markets, and to curb the efforts of Fantne's flowing into the United States.
Although the communication between the United States and China has improved in the past year, due to the differences in industrial policies and China's dominant green energy technology field, the economic relations between the two countries are still tight.The Biden government has levied new tariffs on a series of Chinese imported products in May this year, including electric vehicles, solar batteries, semiconductors and advanced batteries.The United States is also restricting investment in some industries in China because the US policy makers believe that this may threaten national security.
The US delegation is led by Brent Neman, the assistant to the Ministry of Finance in charge of international financial affairs, and will set off on Monday.Members of the delegation include officials of the Fed and the US Securities and Exchange Commission.It is expected that they will meet with the Vice President of the People's Bank of China Xuanchang.
"We intend to discuss financial stability at this round of financial work group meeting, related matters related to cross -border data, loans and payment, the efforts of the private sector to promote low -carbon transformation and financing, and what improvements can we take when financial pressure occurs.Specific measures to communicate, "Negman said before his departure.
The financial regulators of both parties have been conducting financial impact exercises this year to coordinate measures in crisis that may affect the stability of international banks or insurance systems, such as cyber attacks or climate disaster.
Bayeng government has been urging China to take action to prevent chemical exports used to produce fentanyl to other countries and smuggle to the United States.This month has shown that it has made progress in this regard. China announced that it will take new restrictions on the three of them. The United States calls this move as "a valuable step forward."
The two sides continue to have controversy on other economic issues.During the visit to China in April this year, Treasury Secretary Yurun urged Chinese officials to stop dumping cheap clean energy products from the global market and warned that China's excess industrial capacity will distort the global supply chain.
But after holding a meeting last month in China, there were not many signs that China would reduce investment in high -tech manufacturing, or to take major measures to re -balance domestic consumption to re -balance domestic consumption.
This round of talks this week is the fifth time of the financial working group, and it is also the second time that officials have held a meeting in China.
