China urges ‘practical’ US action on sanctions after Yellen talks
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The US has imposed sanctions on some companies for using forced labour in the far-western region of Xinjiang.
PHOTO: EPA-EFE
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BEIJING - China on Monday called on the United States to take practical action in response to its major concerns about sanctions on Chinese companies, after US Treasury Secretary Janet Yellen wrapped up more than 10 hours of meetings
Dr Yellen came to Beijing seeking to ease tensions between the world’s two superpowers, and while there was no breakthrough, both sides described their talks as “productive”, and agreed to keep channels open at all levels for talks on the economy.
The visit boosts chances for a meeting between US President Joe Biden and China’s President Xi Jinping later in 2023, possibly at the Asia-Pacific Economic Cooperation Summit in San Francisco in November.
Before leaving on Sunday, Dr Yellen told reporters that she and her Chinese counterparts had “aired significant disagreements” in their meetings, a sentiment reflected in a readout from China’s Finance Ministry on Monday morning.
China requires the US to “cease the suppression of Chinese enterprises, lift bans on Xinjiang-related products and take concrete steps to respond to China’s major concerns in economic relations between the two countries”, the ministry wrote.
The US has imposed sanctions on some companies for using forced labour
Beijing denies the use of forced labour and any other abuses there.
The ministry said China believed its development was an opportunity rather than a risk to the US, and that “strengthening cooperation between China and the United States is a realistic need and the correct choice of the two countries”.
“The re-commencement of senior-level Sino-US talks in diversified areas could open up room for more cooperation on bilateral and global issues,” said Jones Lang LaSalle chief economist Bruce Pang in Hong Kong.
“I expect more working-level communications ahead on a range of topics where there is more consensus than disagreements, such as climate change and the tariff reduction list, among others,” he added. REUTERS
