Tag: Beijing

The US Treasury Secretary, Janet Yellen, stated that future talks between the US and China will focus on the need for Beijing to shift its industrial and economic policies. Yellen believes China's overcapacity in certain sectors has been harming other countries' economies. She and Chinese officials discussed Beijing's economic plans, but further details were not provided. The topics of national security and information exchange on economic tools were also discussed during Yellen's visit to China.

US Treasury Secretary Janet Yellen is visiting China for meetings with officials on issues like trade and industrial overcapacity. She hopes to improve communication between the two countries, which have had a strained relationship. Yellen will specifically address China's export strength and its impact on global economies.

As global tensions flare, China continues to woo foreign investors. U.S. business leaders recently met with President Xi Jinping to discuss investments, amidst challenges such as geopolitical uncertainties and slower economic growth. The Chinese government has eased data export restrictions and organized the "Invest in China Summit" to attract capital. However, concerns about geopolitical tensions and the country's ambitious growth target of 5% remain.

Despite challenges in real estate, infrastructure, and exports, China is pivoting its economy towards manufacturing and technology. HSBC, the global bank, expresses optimism about China's long-term economic prospects as it transitions to a more consumer-driven, sustainable economy. While short-term headwinds may persist, HSBC anticipates a stronger future for China as it adapts to economic maturity.