U.S.
Treasury
Secretary
Janet
Yellen,
center,
waits
with
others
to
receive
Chinese
President
Xi
Jinping
at
the
San
Francisco
International
Airport
on
Nov.
14,
2023,
ahead
of
Xi’s
meeting
with
U.S.
President
Joe
Biden.

Bloomberg
|
Bloomberg
|
Getty
Images

BEIJING

U.S.
Treasury
Secretary
Janet
Yellen
was
scheduled
to
arrive
in
China
on
Thursday
ahead
of
four
full
days
of
meetings
with
Chinese
officials.

It’s
her
second
trip
to
the
country

since
the
summer
,
as
the
U.S.
and
China
seek
to
increase
high-level
communication
in
an
otherwise
tense
relationship.
U.S.
Secretary
of
State
Antony
Blinken
is
also
due
to
visit
China
again
later
this
year.

“I
think
our
expectation
is
that
we
will
at
senior
levels,
and
increasingly
at
all
levels,
continue
to
have
ongoing
and
deepening
dialogue.
We
went
for
too
long
with
too
little
communication,
and
misunderstandings
developed,”
Yellen
told
reporters
ahead
of
her
arrival
in
China.

Her
trip
will
cover
the
southern
city
of
Guangzhou

the
capital
of
China’s
export-heavy
province
of
Guangdong

and
the
national
capital
of
Beijing,
according
to
a

press
release
.

Here’s
her
full
itinerary
of
meetings:


  • Friday,
    April
    5


    meet
    with
    Vice
    Premier
    He
    Lifeng,
    Guangdong
    Governor
    Wang
    Weizhong,
    economic
    experts
    and
    AmCham
    China
    business
    representatives

  • Saturday,
    April
    6


    continue
    meetings
    with
    Vice
    Premier
    He
    Lifeng

  • Sunday,
    April
    7


    meet
    with
    Premier
    Li
    Qiang,
    Finance
    Minister
    Lan
    Fo’an,
    Beijing
    mayor
    Yin
    Yong,
    leading
    Chinese
    economists
    and
    Peking
    University
    students
    and
    professors

  • Monday,
    April
    8


    meet
    with
    former
    Vice
    Premier
    Liu
    He,
    People’s
    Bank
    of
    China
    Governor
    Pan
    Gongsheng


What
will
they
talk
about?

According
to
the
Treasury,
Yellen
will
discuss
“unfair
trade
practices
and
underscoring
the
global
economic
consequences
of
Chinese
industrial
overcapacity.”

China
has
faced
growing
global
scrutiny
over
how
the
country’s

emphasis
on
building
up
its
manufacturing
capabilities
,
including
the
use
of
subsidies
and
policy
support
to
do
so,
has
helped
Chinese
companies
to
sell
products
such
as
solar
panels
at
far
lower
prices
than
manufacturers
in
other
countries.

In
March,
European
Union
Chamber
of
Commerce
President
Jens
Eskelund
said

trade
tensions
between
the
EU
and
China
will
likely
escalate

as
a
result.

Here's what to expect from Secretary Yellen's upcoming visit to China


watch
now

Guangdong
is
by
far
the
top
province
in
China
by
value
of
exports,
according
to
Wind
Information.

The
province
exported
nearly
5.4
trillion
yuan
($750
billion)
in
manufactured
products
last
year,
with
equipment
accounting
for
two
thirds,
according
to
Tu
Gaokun,
director
of
Guangdong’s
industry
and
information
technology
department.

He
told
reporters
last
week
the
province
was
“committed”
to
improving
productivity,
and
noted
how
it
aimed
to
build
up
sectors
such
as
new
energy
storage,
biomanufacturing
and
commercial
aviation.


Tackling
‘illicit
finance’

During
her
meetings
in
China,
Yellen
will
also
“work
to
expand
bilateral
cooperation
on
countering
illicit
finance,
which
can
drive
important
progress
on
shared
efforts
against
criminal
activity
such
as
drug
trafficking
and
fraud,”
the
Treasury
said.

It
added
that
Yellen
would
discuss
work
on
bolstering
financial
stability,
addressing
climate
change
and
resolving
debt
distress
in
developing
nations.

The
trip
will
mark
Yellen’s
third
meeting
with
Vice
Premier
He
Lifeng,
whom
the
Treasury
secretary
is
also

set
to
meet
later
this
month

at
the
International
Monetary
Fund
and
World
Bank
Group
spring
meetings
in
Washington,
D.C.

He
Lifeng
is
also

director
of
the
office
of
the
Central
Commission
for
Financial
and
Economic
Affairs
,
a
role
formerly
held
by
Liu.