US Treasury Secretary Janet Yellen and Chinese Vice Premier He Lifeng. (Photo:  Bloomberg)

The US has no desire to decouple from China and seeks a healthy economic relationship with China that benefits both countries, said Yellen. She added that the US will continue to take targeted actions to protect its, and its allies’, national security, however. The US is also committed to communicating clearly about these actions to prevent any misunderstandings or miscalculations.

Vice Premier He said maintaining regular exchanges between China and the US is necessary, adding that he appreciates the progress achieved in economic and financial negotiations between the two countries.

This is the second meeting in four months between senior economic officials of China and the US. The aim of the meeting was to identify possible areas of cooperation between the US and China, including artificial intelligence (AI) management and export controls.