What to Know in Washington: Yellen Plans to Visit China in July

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Treasury Secretary Janet Yellen plans to visit Beijing in early July for the first high-level economic talks with her new Chinese counterpart, Vice Premier He Lifeng.

Her trip was long anticipated but was put off until “the appropriate time,” Yellen said in April. People familiar with the trip discussed its timing and purpose on condition of anonymity, because the details haven’t been officially announced.

The Treasury chief would be the second cabinet official to travel to Beijing after relations between the world’s two biggest economies soured earlier this year. Secretary of State Antony Blinken just wrapped up his trip to China, where he met with his counterpart and also had a short audience with Chinese President Xi Jinping. US and Chinese officials described the Blinken visit as productive and said the two sides had candid conversations on a range of issues.

President Joe Biden is still due to speak with Xi, but a date hasn’t been set. Biden said last week he anticipates a meeting with the Chinese leader in the near future.

In addition, a Biden administration executive order that would regulate and potentially cut off certain US investments in China is nearing completion and officials are aiming to have it ready as soon as late July, people familiar with the internal deliberations said.

An administration official said yesterday that Yellen’s travel to China isn’t confirmed yet, while the executive order hasn’t been finalized and doesn’t yet have a timeline for issuance. Jenny Leonard and Annmarie Hordern have more on the administration’s approach to China.


  • Biden will participate in campaign receptions in Chevy Chase, Maryland at 5:15 p.m. and at 6:45 p.m.
  • Deputy Press Secretary Olivia Dalton holds a briefing at 1 p.m.

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To contact the reporter on this story: Brandon Lee in Washington at blee@bgov.com

To contact the editor responsible for this story: Kayla Sharpe at ksharpe@bloombergindustry.com

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