The United States Treasury Department announced on Friday that Washington and Beijing have officially launched two task forces dedicated to addressing economic and financial matters.
The task forces will be under the guidance of Treasury Secretary Janet Yellen and Chinese Vice Premier He Lifeng, the Treasury Department stated. The formation of the two working groups is part of the "consensus" reached by Yellen and the Chinese vice premier during her July visit to Beijing.
"These Working Groups will serve as important forums to communicate America's interests and concerns, promote a healthy economic competition between our two countries with a level playing field for American workers and businesses, and advance cooperation on global challenges," the Treasury secretary said.