China, U.S. discuss macroeconomic policies, addressing global challenges

The China-U.S. economic working group held its sixth meeting in Washington on Friday.

Chinese Deputy Finance Minister Liao Min co-chaired the meeting with Jay Shambaugh, under secretary for international affairs at the U.S. Department of the Treasury, on the sidelines of the 2024 Annual Meetings of the International Monetary Fund and the World Bank Group.

The two sides had "in-depth, pragmatic and constructive" communication on the macroeconomic situation and policies of the two countries, addressing global challenges including joint cooperation to help low-income countries cope with liquidity challenges and future arrangements, according to a statement released by China's Ministry of Finance.

The Chinese side introduced China's current macroeconomic situation and a package of targeted incremental fiscal policy measures launched recently and expressed its concerns about the U.S. imposing additional tariffs on China and Russia-related sanctions.