READOUT: Secretary of the Treasury Janet L. Yellen’s Meeting with Vice Premier He Lifeng of the People’s Republic of China

WASHINGTON – Secretary of the Treasury Janet L. Yellen met virtually today with Vice Premier He Lifeng of the People’s Republic of China as part of her efforts to responsibly manage the bilateral economic relationship.Secretary Yellen and Vice Premier He discussed macroeconomic developments in both countries. They also reviewed the work of the Economic and Financial Working Groups that they jointly established last year.Secretary Yellen raised issues of concern, including those related to China’s non-market policies and practices and industrial overcapacity, which harm U.S. workers and firms, and unless addressed, will continue to adversely affect the U.S.-China bilateral economic relationship.