U.S. Treasury Secretary Janet Yellen began two days of meetings with Chinese Vice Premier He Lifeng on Thursday in a bid to limit the economic fallout from tensions between Washington and Beijing and keep the lines of communication open.
U.S. Treasury officials have sought to downplay expectations for any breakthroughs from the meetings in San Francisco, where U.S. President Joe Biden next week will host a summit of Asia-Pacific Economic Cooperation (APEC) country leaders, including Chinese President Xi Jinping.
Biden and Xi are expected to steal the spotlight with a planned meeting on the summit sidelines. Yellen first met with He during a visit to Beijing in July that was among a series of cabinet-level engagements that paved the way for Biden and Xi to meet.