US, China hold 5th meeting of Economic Working Group

By Ovunc Kutlu

ISTANBUL (AA) - The US and China held their fifth meeting of the Economic Working Group (EWG) on Sept. 19-20 in Beijing, the Treasury Department said Friday in a statement.

Officials of the world's two biggest economies exchanged views on policies that support balanced growth in the domestic and global economies during the meeting, which was the second EWG held in China.

US officials also continued discussions related to issues of concerns raised during the Treasury Secretary Janet Yellen's visit to China in April -- the increasing overcapacity in certain sectors of the Chinese economy, China’s non-market policies and practices, and their impact on American workers and firms.

American officials, in addition, raised their concern about Chinese companies' support for Russia's war in Ukraine, according to the statement.

The two sides also discussed areas of cooperation that included debt issues and financing challenges in emerging and developing economies.

The EWG is one of two working groups formed by Yellen and Chinese Vice Premier He Lifeng in September 2023.