U.S. Treasury Secretary Janet Yellen to Visit China from the 3rd to the 9th

The U.S. Department of the Treasury announced on the 2nd that Treasury Secretary Janet Yellen is scheduled to visit China from the 3rd to the 9th.

According to the Department, Secretary Yellen will depart from Washington D.C. on the 3rd and is planned to arrive in Guangzhou on the 4th. On the 5th, she will engage in discussions with economic experts to deliberate on the challenges and opportunities facing the Chinese economy before meeting with Wang Weizhong, the Governor of Guangdong Province. From the 5th to the 6th, she will hold discussions with He Lifeng, Vice Premier of China’s State Council and a prominent figure in China’s economic sector. Subsequently, on the 7th, she will move to Beijing to conclude the remaining meeting schedule.

Secretary Yellen, visiting China after a nine-month gap, intends to emphasize fair treatment for American workers and businesses. The Treasury Department explained that they would pressure improvements in unfair trade practices and assess the impact of overcapacity in certain Chinese industries on the global economy.

Citing government officials, The New York Times (NYT) reported on the 2nd (local time) that during this visit, there are plans for ‘frank discussions’ regarding China’s overproduction. The NYT also anticipates a focused discussion on the impact of solar panels, electric cars, and lithium-ion batteries and their effects on the global supply chain. Mark Sobel, a former Treasury official, conveyed to the NYT that despite the numerous sensitive issues in current U.S.-China relations where both sides may not fully agree, this meeting could help reduce misunderstandings between the two countries.