The United States and the People’s Republic of China convened for the sixth meeting of the Financial Working Group (FWG) on October 28, alongside the IMF-World Bank Annual Meetings in Washington. This meeting was co-led by Brent Neiman, Assistant Secretary for International Affairs at the U.S. Treasury, and Xuan Changneng, Deputy Governor of the People’s Bank of China.
During this session, both nations discussed their macroeconomic and financial conditions, with a focus on China's recent stimulus efforts. The discussions also included reports from FWG technical exercises concerning international macroeconomic data reporting, communication strategies during banking stress, and issues related to climate and insurance risk. Additionally, the Joint Treasury-People’s Bank of China Cooperation and Exchange on Anti-Money Laundering held its third meeting as part of these proceedings.
U.S. Secretary of the Treasury Janet L. Yellen received an update from the FWG about its discussions. She acknowledged "the FWG’s role in the responsible management of the bilateral relationship."
Established in 2023 by Secretary Yellen and Vice Premier He Lifeng from China, the FWG is one of two working groups that report directly to them.
