U.S. Treasury Secretary Janet Yellen and her team are hoping their second visit to China in nine months, building on a series of bilateral talks, will yield valuable clues to the true state of the world¡¯s No. 2 economy ¡ª even if no significant policy agreements are anticipated.
China has cracked down on the availability and discussion of some unflattering data in recent years, as the nation¡¯s economy faces major threats from a property crisis and geopolitical spats. Gleaning information about the Chinese economy, including details on the measures Beijing is considering to secure the government¡¯s 2024 growth goal, will be a key focus of the Yellen delegation, a senior Treasury official told reporters ahead of this week¡¯s visit.
Yellen departed Wednesday, on the heels of the first one-to-one communication between Presidents Joe Biden and Xi Jinping since November. She¡¯s scheduled to meet China¡¯s economic policy czar, Vice Premier He Lifeng, along with his predecessor Liu He, who analysts say retains influence, and the central bank and finance chiefs.
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