US Treasury Secretary Janet Yellen to visit China this week

"Secretary of the Treasury Janet L. Yellen will travel to Beijing, the People’s Republic of China (PRC) from July 6-9 for meetings with senior PRC officials," the Treasury Department said on Sunday, adding that "Yellen’s travel follows [US] President [Joe] Biden’s directive after his meeting with [Chinese] President Xi [Jinping[ last November to deepen communication between the U.S. and the PRC on a range of issues, including on the global macroeconomy and financial developments."

Yellen plans to discuss the US-China relationship with Chinese officials, the release specified.

"While in Beijing, Secretary Yellen will discuss with PRC officials the importance for our countries – as the world’s two largest economies – to responsibly manage our relationship, communicate directly about areas of concern, and work together to address global challenges," the Treasury Department said.

On Wednesday, Yellen told US broadcaster MSNBC that she hoped her upcoming visit to China would help Beijing and Washington re-establish contacts between leaders and senior officials of the two countries, as well as ensure "healthy competition."

The US treasury secretary is going to be the second Biden administration official to travel to Beijing after a souring in relations between the two countries. Earlier in June, US Secretary of State Antony Blinken made a trip to Beijing, where he met with Chinese President Xi Jinping and other senior officials.

(With UNI Inputs)