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US Treasury Secretary talks to Chinese officials to build strong Sino-US ties

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Chinese Vice Premier Wang Yang has talked with the US Treasury Secretary Steven Mnuchin on phone Friday night to exchange views on issues including China-US economic cooperations, according to a statement published on China central government’s  website www.gov.cn late Friday.

Mnuchin held separate calls with Chinese Vice Premier Wang Yang, Minister of the Office of the Central Leading Group on Financial and Economics Affairs Liu He, People’s Bank of China Governor Zhou Xiaochuan, and Chinese Minister of Finance Xiao Jie over phone, according to a press release from the US Treasury Department on Friday.

Mnuchin emphasized that he expected to foster strong US-China engagement during his tenure while also stressed the importance of achieving a “more balanced bilateral economic relationship going forward,” said the press release.

Secretary Mnuchin also conveyed his commitment to working  with the Chinese leadership on a comprehensive set of economic, financial, trade and investment, and illicit finance issues, in both bilateral and multilateral forums.

“Demonstrated leadership by our two countries on critical issues will not only be beneficial to each country but also to the global economy,” the press release quoted Mnuchin as saying, adding the Secretary would like to work closely together.

There have been widespread concerns of possible trade war between China and the US, after President Donald Trump has repeatedly claimed to narrow the US trade deficit with China, known as the largest in the world. The U.S. trade deficit with China was USD 347 billion in 2016, down 5.4 percent on year,according to data from the U.S. Census of U.S. Trade in Goods with China.

Meanwhile, the Trump government has also called for a "reciprocal" investment demanding China to open up more sectors to foreign investments, according to an earlier CNN report. 
 

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