China and the United States Establish Economic Task Force

In line with the crucial consensus reached during the meeting of the leaders of China and the United States on the sidelines of the Bali Summit, and in accordance with the agreement between He Lifeng, Vice Premier of the State Council of China and the Chinese lead for economic and trade negotiations with the United States, and Janet Yellen, the Secretary of the U.S. Department of the Treasury, both countries have agreed to establish a task force in the economic sector. This task force includes two subgroups: the “Economic Task Force” and the “Financial Task Force.”

The “Economic Task Force” will be led by deputy ministers from the finance departments of both China and the United States, while the “Financial Task Force” will be headed by deputy ministers from the People’s Bank of China and the U.S. Department of the Treasury. These two task forces will convene regular and ad-hoc meetings to enhance communication and exchange on matters related to the economic and financial sectors.

This collaborative effort is seen as a significant step towards implementing the important agreements and understanding reached during the Bali Summit. It reflects the commitment of both nations to foster cooperation in areas crucial to the global economy.

Keywords: China, United States, Economic Task Force, Financial Task Force, Economic Cooperation