Divided into economic and financial segments, these groups aim to create reliable communication channels between the world’s two largest economies. Yellen emphasized that these groups will serve as critical forums to discuss the interests and concerns of both countries, promote fair economic competition and create a level playing field.
This development follows several visits by senior US officials to China this year, setting the stage for a possible meeting between President Joe Biden and Chinese President Xi Jinping at the Asia-Pacific Economic Conference in San Francisco in November .
Finance ministers of both countries have promised to hold regular meetings to strengthen economic ties.
Source: Ferra
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