US & China agree to hold intensive exchanges on balanced growth

The United States and China have agreed to hold “intensive exchanges on balanced growth”, the US Treasury Department said in a statement yesterday. The two sides have agreed to hold talks and create two economic groups focused on a wide range of issues, including addressing US complaints about China’s economic model, growth in domestic and global economies and efforts against money laundering.

The agreement comes on the second day of an official visit to China by US Treasury Secretary Janet Yellen, during which she has urged Chinese leaders to change their domestic manufacturing policies.

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