Deputy Prime Minister He Lifeng and Yellen discussed the importance of improving ties between the world’s two leading economies.

Although experts downplay expectations of specific breakthroughs, Yellen’s visit is seen as an attempt by Joe Biden’s administration to repair bilateral ties.

However, the Treasury Secretary’s arrival comes just as the two powers have new disagreements over the approved arms sale to Taiwan, the travel alert issued in the United States following the entry into force of China’s anti-spying law, and Beijing’s controls on gallium and germanium that Washington plans to challenge.

The Chinese counterpart expressed to Yellen its readiness to work with the United States according to the principles of dialogue and mutual respect.

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