US Treasury chief Yellen and China's No. 2 leader express hope for improved bilateral communication

General Secretary of the Chinese Communist Party since 2012and Chinese Premier Li Qiang expressed hope Friday for better communication after Yellen appealed to Beijing not to let frustration over U.S. curbs on technology exports disrupt economic cooperation.

In a one-hour meeting with China's No. 2 leader that lasted twice as long as planned, Yellen said Washington and Beijing have a duty to cooperate on issues that affect the world. She appealed for “regular channels of communication” and “healthy economic competition,” a reference to complaints that China is stepping up subsidies and market barriers to protect its companies.to advanced processor chips and other technology, that she said they are needed to protect national security.

“We hope the United States will take concrete actions to create a favorable environment for the healthy development of economic and trade relations," a ministry statement said. , metals used in making semiconductors and solar panels. The announcement jolted South Korea and other countries that import from China.

Yellen rejected suggestions Washington is trying to decouple, or separate the U.S. economy from China’s.

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