Yellen Urges China to End Unfair Economic Practices and Promote Healthy Competition

Treasury Secretary Janet Yellen met with Chinese Premier Li Qiang in Beijing to discuss economic collaboration and urged regular communication between the two countries. Yellen defended US actions to deter Chinese access to advanced processor chips for national security reasons and criticized China's treatment of US companies. She also called for healthy economic competition and cooperation on global challenges. While conditions between the US and China may improve, no potential changes in Chinese policies were outlined. The Chinese finance ministry called Yellen's visit a concrete measure to improve relations, emphasizing the need for a favorable environment for economic and trade relations.