Yellen meets Chinese central bank governor at G20 summit via Reuters

By David Lauder

NUSA DUA, Indonesia, Nov. 16 (Reuters) – US Treasury Secretary Janet Yellen met with China’s central bank governor Yi Gang on Wednesday to discuss issues including rising energy and raw material prices, as well as the two countries’ macroeconomic prospects. US Treasury.

A US Treasury representative said the meeting, which lasted two hours, had a “frank, constructive and positive tone”. “In the context of global challenges, Secretary Yellen and Governor Yi also discussed G20 issues.”

The meeting took place on the sidelines of the G20 summit in Bali, which was overshadowed by news that a missile had fallen in NATO member Poland, killing two people and raising fears that the Ukraine conflict could spill over its borders. The leaders of the Group of Seven and European countries present at the summit met to discuss the situation.

Yellen will also hold her first meeting with Italy’s new Minister of Economy and Finance Giancarlo Giorgetti on Wednesday as the G-20 summit concludes.

In the meeting with Yi Gang, first reported by Reuters, Yellen and senior Treasury officials said they would seek more clarity on China’s plans to ease its COVID-19 policy, which has slowed its growth and constrained its supply chains, and how Beijing will work on it. Addressing problems in the huge real estate sector.

Leylin’s first personal conversation with a top Chinese economic official comes after US President Joe Biden’s three-hour meeting with Chinese leader Xi Jinping on Monday.

Although there were acrimonious discussions about Taiwan, North Korea, human rights and trade policies, the two leaders stressed the need to reorient US-China relations, with Biden saying he wanted to “manage this competition responsibly.”

On Monday, Yellen said she hoped the meeting would lead to a further economic settlement between the two superpowers.

(Reporting by David Lauder; Editing by Raju Gopalakrishnan, Ed Davies; Spanish editing by Jose Muñoz at Gdansk Newsroom)