The US and China have formed working groups on economics and finance

Washington and Beijing have formed working groups on economics and finance, which will provide the two countries with "channels for honest and substantive discussions.

" This is reported in the statement of the American Ministry of Finance.
"Today, the United States and China under the leadership of the Minister of Finance [USA] Janet Yellen and Vice Premier of the State Council of China He Lifeng launched a working group on economics and a working group on finance. Both working groups will become permanent channels for honest and substantive discussions on economic and financial issues, as well as for the exchange of information in the field of macroeconomics and finance," the statement reads.
The US Treasury explains that an agreement on the formation of working groups was reached during Yellen's visit to Beijing in July this year. The working group on economics will be led by representatives of the US and Chinese Ministries of Finance. And the financial working group will be headed by representatives of the US Treasury and the People's Bank of China (Central Bank). Both structures will meet regularly at the level of deputy ministers and report on the work done to Janet Yellen and He Lifen, the US financial department indicates, writes TASS.