READOUT: First Meeting of the Economic Working Group Between the United States and the People’s Republic of China

WASHINGTON – Today, the United States and the People’s Republic of China held the first meeting of the Economic Working Group (EWG), which serves as an ongoing channel to discuss and facilitate progress on bilateral economic policy matters. The delegations met virtually for two hours and had a productive and substantive discussion on topics including domestic and global macroeconomic developments. U.S. officials also frankly raised areas of concern. The meeting was led by senior officials from the U.S. Department of the Treasury and China’s Ministry of Finance.

The EWG was launched last month following Secretary Janet L. Yellen’s trip to Beijing in July and carries out President Biden’s directive last year to build resilient lines of communication between the two countries. The EWG was launched in parallel with the Financial Working Group, which will hold its first meeting on Wednesday, October 25. Both working groups report directly to Secretary Yellen and Vice Premier He Lifeng.