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U.S., China launch economic, financial working groups

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U.S., China launch economic, financial working groups

Published September 22,2023


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The U.S. and China, two of the largest economies on the earth, have launched an Economic Working Group and a Financial Working Group, the U.S. Treasury Department introduced Friday.

The two teams will present channels for discussions on financial and monetary coverage issues, along with an alternate of data on macroeconomic and monetary developments, it mentioned.

“The formation of these Working Groups builds on the consensus reached between Secretary (Janet) Yellen and Vice Premier He (Lifeng) during the Secretary’s trip to Beijing in July, and carries out President (Joe) Biden’s directive to deepen communication between the two countries following his meeting with President Xi in Bali last year,” it added.

The Economic Working Group will likely be led by the U.S. Treasury Department and China’s Ministry of Finance, whereas the Financial Working Group will likely be led by the Treasury Department and the People’s Bank of China.

The two teams will meet on the vice minister-level often and report back to Yellen and He, in keeping with the assertion.

Source: www.anews.com.tr

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